DELOITTE ADMINISTRATORS have announced they are to make 60 redundancies across the collapsed retailer’s head office with HMV’s chief executive also included in the lay-offs.
Nick Edwards, Rob Harding and Neville Kahn – Deloitte partners – were appointed joint administrators to HMV Group, HMV Music, HMV and Fopp Entertainments on 15 January.
Earlier this month the administrators announced that a number of stores closures were necessary. The knock-on effect has seen the administrators also announce that 60 redundancies will take place in the retailers head offices in London, Marlow and Solihull.
The BBC reports that the chief executive Trevor Moore, previously boss of now collapsed camera retailer Jessops, is among the 60 staff made redundant.
Edwards said: “Following our announcement of the closure of 66 stores, it has been necessary to consider the head office support required for the reduced store portfolio.
“As a result of this review, a number of redundancies at the head office have been made. This has been a difficult decision, but a necessary one in restructuring the business. We would like to express our gratitude to staff for their continued support during the administration.”
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By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
Peter Saville, Ryan Grant and Anne O’Keefe of AlixPartners will now become the supervisors of the CVA and monitor the implementation of the proposal