HMV To Close 60 Stores Over The Next Year

TheNorte blog reports that according to BBC Business News word is that HMV will be closing 60 of their stores in the UK over the next year in order to get their costs under control!! This is because they have fallen 21% after revealing falling sales, weak profits and trouble meeting the terms of a bank loan. HMV Group are saying due to the severe weather conditions and “challenging trading conditions” during the Christmas period their sales fell dramatically! Statistics show like-for-like sales for the crucial five weeks to 1 January were down 10.2% on last year, due to a 13.6% slump at its HMV music stores in the UK and Irish Republic

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