February 18, 2019

HMV rescued by Sunrise Records; BP profits spill over; Ocado losses widen

05 February 2019, 05:24 | Hattie Nash

HMV was saved from administration today but 27 stores still face closure

Music Retailer HMV Goes Into Administration

Details of which stores are destined to be shuttered are not immediately available, but nearly 1,500 store and head office employees will keep their jobs as part of the transition.

Sunrise Records & Entertainment Ltd is acquiring 100 stores across the United Kingdom, and 1,487 store and head office employees will transfer as part of the transaction.

The firm's remaining 27 stores will close, resulting in 455 redundancies, and it has been revealed the store at Bluewater in Greenhithe and the Tunbridge Wells store in Royal Victoria Place, are set for closure. A further 122 employees at warehouses will be retained to assist in winding-down operations.

MR Putman, chieF executive of Sunrise Records, said: "We are delighted to acquire the most iconic music and entertainment business in the United Kingdom and add almost 1,500 employees to our growing team".

Piers Morgan riles Meghan Markle fans with banana mockery
But the former actress is going with whatever feels right for her, regardless of the rules. "She's acting great at the moment". During the breakfast show, he said: "Giving a sex worker a banana is clearly exposing them to potential mockery".

KPMG, the administrators of music shop HMV, on Tuesday revealed the names of the 27 stores that will be closing under a proposed rescue deal for the chain, which went bust at the end of a year ago.

Staff at the affected stores are being spoken to today (February 5) and a list of the shops affected is expected later today.

HMV went into administration in December 2018 after a whopping 30% fall in demand for DVDs at Christmas. "I feel really lucky to be able to say that we can continue to call it HMV".

Mr Ashley, who bought House of Fraser out of administration previous year, had been hotly tipped as a potential buyer for HMV.

Black Ferns Sevens and All Blacks Sevens claim Sydney gold
After their 21-5 victory in the final, the All Blacks jumped to the top of the standings, ahead of the U.S. on tournaments won, and four points ahead of Fiji.

"By catering to music and entertainment lovers, we are incredibly excited about the opportunity to engage customers with a diverse range of physical format content and replicate our success in Canada".

"Our immediate concern is now to support those employees that have unfortunately been made redundant".

We hope that Government will play its part in helping to sustain important employers like HMV by reviewing the high levels of business rates that disadvantage physical stores compared to online traders.

Donald Trump's Daily Schedule Report Leak Angers White House
Trump has grown more sure of his own judgment and more cut off from anyone else's than at any point since taking office". The schedules show that Trump's first meeting of the day typically isn't until 11 or 11.30am.

Other News

Trending Now

The 'Toy Story 4' Super Bowl Ad Is Here
The franchise has seen two sequels and multiple merchandise lines since then, and we now know that Toy Story 4 is on the way. In the trailer, Woody and Little Bo Peep are at a carnival waiting for Buzz, who said he would meet them there.

Pope taking part in conference on fraternity in UAE
She says she came to see the pope "because I know seeing the pope alone will already create maybe an inside miracle in all of us". Vatican spokesman Alessandro Gisotti said the reason was to give greater emphasis to his speech to the interfaith conference.

Kristaps Porzingis And Mark Cuban Already Looking Towards Long-Term Deal
ESPN then caught up to Cuban after the presser to ask if he's anxious that Porzingis may eventually sign elsewhere. The kid's a talent, and hopefully we can bring it out consistently".

Kvitova loses to Vekic in St Petersburg quarters
Petersburg Ladies Trophy-2019 tennis tournament semifinal match in St.Petersburg, Russia, Saturday, Feb. 2, 2019. Petersburg Ladies Trophy featuring Australian Open finalist Petra Kvitova and Maria Sharapova.

Thousands protest in Paris against police violence
Chanting anti-government slogans, they were heading toward the Place de la République , in the northeast of the city center. The package, estimated at 10 billion euros ($11.46 billion), includes a 100-euro monthly increase to the minimum wage.

Facebook's WhatsApp Adds Support for Face ID/Touch ID Biometric Lock on iOS
To benefit from the new security feature, simply head to Settings / Account / Privacy and make sure to enable Screen Lock . According to the report by WABetaInfo , users can also set the time duration before which the app locks down WhatsApp.

Federal Prosecutors Reportedly Subpoena Trump Inaugural Committee
Foreign contributions to inaugural funds and PACs are prohibited under federal law. A spokeswoman says the committee intends to cooperate with the inquiry.

Sex worker blasts Meghan Markle's 'stupid' banana stunt
The duchess wrote on the bananas, "You are strong" and "You are loved", as well as "You are brave" and "You are special". Controversial commentator Piers Morgan agreed, slamming the Duchess in an unforgiving opinion piece for the Daily Mail .

Trump says he wouldn't 'steer' son toward football
Trump then segued to his feelings about kneeling during the national anthem, without addressing the original question. Trump has been extremely critical of players who chose to kneel or sit during the pregame national anthem.

Putin to pull plug on nuclear arms pact after US does same
President Vladimir Putin said on Saturday that Russia's initiatives in this area remain on the table, Lavrov noted. NATO allies have strongly backed Washington and urged Moscow to save the treaty by returning to compliance.