HMV closing 37 more stores, cutting 484 additional jobs

U.K. retailer HMV's administrators have decided to close another 37 of the company's stores, cuts that will put 484 more people out of work, reports The Guardian.

Today's announcement brings the total number of planned closures to 103 stores. Deloitte, the professional services firm that is running HMV while it is in administration, said earlier this month that it planned to ax 66 stores and 930 employees over the next two months. Initially, the firm estimated it would close between 60 and 100 HMV locations.

"We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period," said administrator Nick Edwards.

The cuts of 103 stores and more than 1,400 employees leave HMV with 116 retail locations across the U.K. The company's administrators announced last week that they were closing the 16 HMV stores in Ireland and laying off approximately 300 people.

Beleaguered retailer HMV entered administration, the U.K.'s rough equivalent of bankruptcy, in January after a poor holiday season during which it failed to secure additional funds from its financiers.

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