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Which clippings match 'Store Closures' keyword pg.1 of 1
14 JANUARY 2013

High Street music retailer HMV to appoint administrator

"Music and DVD chain HMV, which employs about 4,350 staff, has confirmed it will appoint an administrator, making it the latest High Street casualty. Deloitte will run the 239–store chain while it assesses prospects for the business and seeks potential buyers. Trading in HMV shares on the London Stock Exchange are being suspended, the company said in a statement. ... [Neil Saunders, the managing director of retail analyst firm Conlumin] said that although the HMV brand 'certainly has some value' for potential buyers, the current business model was dead. "The bottom line is that there is no real future for physical retail in the music sector," he said."

(BBC News, 14 January 2013)

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TAGS

19212013bricks and mortarbusiness into administrationbusiness modelclosurecompany liquidationcompetition • consumer downturn • debtDeloittedigital downloadsDVDeconomic recessionhigh streethigh street retailerhigh street shops • His Masters Voice • HMVincreasing competitioninsolvencyinternet retailersjob losses • London Stock Exchange • music chain • music downloading • music retailer • music sector • online retailer • online retailing • Oxford Streetphysical presencephysical retailphysical storeretailershopstore closuresstructural shifts in the sectorsupermarketssuspended tradingtradingUKunsustainableWaterstones

CONTRIBUTOR

Simon Perkins
14 JANUARY 2013

High Street camera store Jessops to close with loss of 1,370 jobs

"High Street camera retailer Jessops has shut all of its stores, resulting in the loss of about 1,370 jobs. Administrator PricewaterhouseCoopers (PwC), appointed this week, said the doors had been closed for the last time on all 187 stores in the UK. More jobs would be lost at the head office in Leicester, it added. Jessops became the first High Street casualty of 2013, after a raft of firms fell into administration in 2012, including Comet and Clinton Cards."

(BBC News, 11 January 2013)

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TAGS

193520122013bricks and mortarbusiness into administration • camera retailer • camera store • Clinton Cards • closureCometcompany liquidationeconomic recession • Frank Jessop • high streethigh street retailerhigh street shopsincreasing competitioninternet retailers • Jessops • job lossesLeicesterphysical presencephysical store • PricewaterhouseCoopers • PwC • retailershopstore closuressupermarkets • The Jessop Group Limited • tradingUK

CONTRIBUTOR

Simon Perkins
19 NOVEMBER 2012

High Street electricals retailer closes 41 stores

"The insolvent electrical chain Comet will close 41 stores by the end of November unless a buyer can be found. ...

Comet's demise was one of the biggest High Street casualties of recent years.

The electricals chain had been hit hard by the drop in consumer spending in the UK since 2008, which has been particularly acute in the case of the big items that Comet sells.

Many of Comet's customers are first–time home–buyers, according to Deloitte, meaning that business has been hurt by the much tighter conditions in the UK mortgage market."

(BBC News, 17 November 2012)

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TAGS

2012 • appointed administrators • bricks and mortarbusiness into administration • Christmas period • closing down sale • closureComet • continue trading • DeloitteDixonseconomic recessionhigh streethigh street retailerhigh street shopsinsolvencyjob lossesphysical retailphysical store • pushed to the brink • redundancyretailershop • store closure • store closuressuspended tradingtradingUKuncertain future

CONTRIBUTOR

Simon Perkins
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