Reports are surfacing suggesting that HMV are on the verge of administration, potentially ending the trading and services of the last major music store chain on British high streets.
Sky News reported earlier today that the company’s board is deep in “crisis talks” following years of dwindling profits and battles against internet shopping and music downloads, with administration a very real and possible outcome come the end of this week.
The BBC, ITV and numerous other outlets have since alleged that administrators will be called in tomorrow morning.
If HMV is indeed to go into administration, it would put over 4,000 jobs at risk. We’ll have more on this story as it develops.