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Britain's HMV Faces the Music As Retailer Calls In Administrators

Credit: Wochit
Published on December 28, 2018 - Duration: 00:37s

Britain's HMV Faces the Music As Retailer Calls In Administrators

According to Reuters, Music retailer HMV said it was calling in the administrators, blaming a worsening market for CDs and DVDs, as it becomes the latest victim of brutal trading conditions in Britainโ€™s retail sector.

HMV said that the accounting firm KPMG has been named as the administrator and intends to keep the business running while it seeks a potential buyer.

The retailer, one of Britainโ€™s best-known high street stores, went into administration in 2013 after being hit by competition from online rivals and music streaming services.

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