HMV to close up 66 stores over the next two months, 930 job losses

HMV may close up to 66 stores over the next two months resulting in 930 employees losing their jobs, the Guardian reported.

While the news is horridly dire, closures are on the smaller end of estimated loses.

The 66 stores consist of 45 stores in England and 21 stores in Wales, Scotland and Northern Ireland.

CVG reports a source "close to the matter" said particular stores could reverse their fortunes and may not be shuttered by its administrators, the financial services firm Deloitte and HMV Canada owner Hilco.

HMV posted an apology to its customers and staff on its Facebook page:

"As you may be aware, a number of our stores in the UK have been earmarked for closure. This decision has not been taken lightly and, though very sad and regrettable, it is necessary to give HMV the best possible chance of emerging from administration and having a future on the high street," the post said.

"We'd like to acknowledge the invaluable contribution of affected colleagues, who continue to work with great passion and dedication, and this decision in no way reflects on their considerable efforts on behalf of HMV."

We also sincerely thank our customers in these locations for their valued support over many years, who we hope will continue to shop at HMV," it continued.

Using the hashtag #hmvXFactorFiring HMV employees with access to the official HMV Twitter account live tweeted a HR meeting where a mass firing was underway, according to the Guardian. HMV deleted the tweets but not before the following tweet was sent out:

"Just overheard our Marketing Director (he's staying, folks) ask 'How do I shut down Twitter?'"

The Irish Times confirmed in January that retailer Game may bid up to 45 HMV stores.