DORSET'S two branches of HMV have escaped the axe after the chain was bought out of administration.
The chain has been acquired by Canadian retailer Sunrise Records, safeguarding the future of nearly 1,500 staff.
However, 27 unprofitable stores will close immediately, resulting in 455 redundancies.
Both the Bournemouth store, in the Avenue Centre, and the Poole branch, in the Dolphin Centre, escaped inclusion on the closure list.
Andy Duck, manager of the Avenue Centre, said of the store there: “It has traded very well historically and it’s a good brand."
Sunrise, which is owned by Doug Putman, beat off competition from the likes of Mike Ashley for the stricken retailer and will acquire 100 stores across the UK.Administrator KPMG will retain a further 122 employees at warehouse functions to assist in winding down operations.
Mr Putman said: "We are delighted to acquire the most iconic music and entertainment business in the UK and add nearly 1,500 employees to our growing team.
"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.
"We know the physical media business is here to stay and we greatly appreciate all the support from the suppliers, landlords, employees and, most importantly, our customers."
HMV became the first high street casualty after Christmas when its then owner Hilco called in corporate undertakers in December.
It was the second time HMV has collapsed in recent years, having filed for administration in 2013. That spell in administration led to the closure of the chain's Castlepoint branch.
Will Wright, partner at KPMG and joint administrator, said: "We are pleased to confirm this sale which, after a complex process, secures the continued trading of the majority of the business.
"Our immediate concern is now to support those employees that have unfortunately been made redundant."
Neil Gostelow, partner at KPMG and joint administrator, added: "We are grateful for the support of all key stakeholders including the suppliers whose support throughout this process has been key in securing this sale."
The list of stores closing is as follows:
Ayr
Bath
Bluewater
Bristol Cribbs
Chichester
Exeter Princesshay
Fopp Bristol
Fopp Glasgow Byres
Fopp Manchester
Fopp Oxford
Glasgow Braehead
Guernsey
Hereford
Manchester Trafford
Merry Hill
Oxford Street
Peterborough Queensgate
Plymouth Drake Circus
Reading
Sheffield Meadowhall
Southport
Thurrock
Tunbridge Wells
Uxbridge
Watford
Westfield London
Wimbledon
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel