LONDON (Reuters) – Administrators at HMV, the British music and video retailer which hit the rocks last month, have made the group’s chief executive Trevor Moore redundant, according to a source familiar with the situation.
Deloitte, which was appointed as administrator by HMV after the firm struggled against competition from online retailers, supermarkets and streaming sites, had on Friday announced 60 redundancies across HMV’s head office network.
It would not comment on whether Moore was one of those leaving the firm. He joined HMV in 2012 from camera specialist Jessops, which also went into administration this year.
The redundancies follow a move on Thursday to close 66 loss-making HMV stores over the next two months, putting almost 1,000 jobs at risk. The group currently operates from 220 stores in the UK and employs around 4,000 people.
Deloitte is seeking a buyer for all or parts of the business, with analysts expecting it to survive in a much smaller form with an online offering.
In January restructuring specialist Hilco bought HMV’s debt, giving the firm a big say in the fate of the 92-year-old group.
(Reporting by Neil Maidment; Editing by Kate Holton)
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