HMV

HMV the entertainment retail store became insolvent in 2013 after Deloitte declared the company bankrupt. The company went into administration after they had been torn apart by the inexorable shift to consumers buying CDs and DVDs online, digital downloading and cut-throat competition on price from the big supermarkets and Amazon.

• Administrators: Deloitte
• Year Founded: 1921
• Total Number of Employees: 4,350
• Total Number of Jobs Lost: 1,600
• Number of Retail Shops: 223
• Managing Director/CEO: Trevor Moore

…2019: In December 2018 HMV called in the administrators again – the second time in six years. Today there are now 2,200 staff over 125 stores. Paul McGowan, HMV’s executive chairman said that the business had faced a ‘tsunami of challenges’ while outsiders say the business has continued to struggle to adapt to changing consumer habits including music, tv and film streaming. It remains to be seen what be the ultimate outcome for HMV in 2019.