Stevenage HMV store safe after new owner announces store closures
PUBLISHED: 15:21 05 February 2019
Stevenage's HMV stored is safe after the music chain's new owners announced store closures despite rescuing it from collapse this morning.
Sunrise Records purchased HMV today after it was placed into administration in December – the second time in six years.
However, it was announced that, while 100 stores across the UK would stay open, 27 were to cease trading with 455 staff losing their jobs.
Thankfully for Stevenage residents, the town’s HMV store in The Forum will remain open.
Sunrise Records chief executive Doug Putman – who purchased HMV’s Canadian chain back in 2017 – beat off competition from Sports Direct owner Mike Ashley for the retailer.
In a statement announcing the purchase, Mr Putman said: “We are delighted to acquire the most iconic music and entertainment business in the UK.”
Speaking to Radio 4’s Today programme, he added that there will be more of a focus on vinyl record sales to match customer demand.