HMV administrators sign new supplier agreement, but more stores expected to close

HMV are expected to shut even more of their nationwide stores, despite having recently signed a new supplier agreement.

The head of the Entertainment Retailer’s Association (ERA) recently told BBC Radio 1 that she believes more will soon add to the 66 already shut in the UK, as well as all those closed in Ireland.

Kim Bayley told Newsbeat:

“I think there will definitely be more HMV closures over and above the 66 that have already been announced. everyone in the industry hopes that they come through the other side, and that with a slimmer and leaner organisation HMV can still make a high street presence work.”

HMV have also signed a new agreement with all of their suppliers, with administrator Deloitte saying:

“We are pleased that these agreements are now in place, allowing us to replenish stock and bring in new titles. The support of suppliers over the past few weeks has been significant and these agreements demonstrate their ongoing commitment to supporting HMV.”