HMV which is currently under adminstration is closing all 16 stores in the Republic of Ireland after no buyer turned up for these locations. 300 employees have been let go due to the closures.
“Since his appointment, the receiver has conducted an assessment of the viability of the company and has actively sought a sale,” said HMV speaking with the Irish Exmainer.
“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.”
Last week, it was announced HMV will be closing 66 of its 220 stores. It is not known if these 16 store closures are part of those 66 stores closing.