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Bid to save Falkirk’s HMV

Falkirk's HMV store is earmarked for closure

Falkirk's HMV store is earmarked for closure

Moves are being made to try to save the HMV store in Falkirk.

The owners of the Howgate Centre, which has been home to the music and DVD retailer for over 10 years, are in talks with administrators Deloitte to see if a deal can be reached.

The outlet, at 6000 square feet one of the largest in the popular High Street mall, is one of 11 Scottish stores earmarked for the axe as part of a closure plan affecting 66 across the UK and Northern Ireland which could cost up to 930 jobs.

But it has been confirmed the Howgate’s landlords are doing all they can to secure its future.

Howgate marketing manager Margaret Foy said: “No final decision has been taken as yet. Talks with the administrators are ongoing to see if there is a way to keep the outlet open. We are doing our best to make that happen but nothing has been agreed.”

The business which has 220 stores entered administration in January after poor sales over Christmas. Fierce competition from online retailers, digital downloads and supermarkets in recent years has been blamed for its problems.

Deloitte said no fixed date had been set for the closures of the 66 identified stores which will continue to trade meantime.

Joint administrator Nick Edwards said: “This step has been taken to enhance the prospects of securing the business’s future as a going concern. We continue to receive strong support from staff and are extremely grateful to them for their commitment duing an understandably difficult period. All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business.”

Deloitte has been in talks with restructuring experts Hilco, which already owns HMV in Canada and bought HMV’s debt, about the way ahead.

 

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