The Straits Times
Published on Jan 17, 2013

HMV shuts Irish stores after receiver appointed


DUBLIN (REUTERS) - Music and video retailer HMV closed its 16 Irish stores on Wednesday after a receiver was appointed to assess their viability, a day after the company sought protection from creditors in Britain.

After years of struggling against competition from online retailers, supermarkets and download sites, Deloitte was appointed administrator in Britain on Tuesday to try to salvage some of its 223 British stores.

However, the retailer requested on Wednesday that a receiver be appointed to its Irish operations, which employs around 300 people. Unlike administration, known as examinership in Ireland, receivership is not aimed at keeping the company operating as a going concern.

While the retailer's British stores have remained open, a notice on the shut doors of its flagship unit on Dublin's main shopping thoroughfare of Grafton Street said it was "closed until further notice".