More bad news for employees of HMV - particularly those 300 employees that worked for the UK-based retailer in Ireland. The Ireland-based division of the company has been shut down and some 300 employees are to be affected by the closures, according to a report in the Irish Examiner. All 16 of HMV’s stores have been closed according to the report, and the company has admitted that it was unable to find a buyer and that the stores would remain closed.
"Since his appointment, the receiver has conducted an assessment of the viability of the company and has actively sought a sale,” a statement released to the Irish Examiner said.
"The marketplace is very difficult given competition from web-based retailers and digital downloads, compounded by a number of other factors including high levels of rent.
"All stores were loss making and it was not possible to attract a purchaser."