HMV, one of the UK’s largest entertainment retailers could be going into administration as early as tomorrow morning, according to BBC News.
The news comes just hours after MCV.com announced that the directors of the beleaguered retail chain are locked in meetings tonight considering the company’s future. Although there are several options available to them, administration looks to be the most likely option according to sources at The Independent, Sky News and Channel 4.
Latest reports suggest administrators Deloitte would run the 239-store chain and some 4,350 staff.
Any hopes that the company would be bailed out by US based Apollo Global Management have been crushed when they opted not to buy into anymore of HMV’s spiralling debts.
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