January 29, 2015 1:36 AM ET

Specialty Retail

Company Overview of HMV Group plc

Company Overview

HMV Group plc engages in retailing pre-recorded music, video, electronic games, and related entertainment products under the HMV and Fopp brands. It offers multi-channel access to a selection of music, film and games, and other culture across various genres and formats, including live music and events through its hmvtickets platform, and ownership of MAMA venues and festivals. As of March 29, 2013, the company operated 219 stores; an online shop, www.hmv.com; and hmvdigital and hmvon-demand digital sites. It has operations in the United Kingdom, Ireland, Hong Kong, and Singapore. The company was founded in 1921 and is based in Marlow, the United Kingdom.

Windsor House

Spittal Street

Marlow,  SL7 3HJ

United Kingdom

Founded in 1921

6,997 Employees

Phone:

44 16 2881 8300

Fax:

44 16 2881 8302

Key Executives for HMV Group plc

Chief Executive Officer and Executive Director
Group Finance Director
Age: 52
President of HMV Asia Pacific
President of HMV Canada
Head of DVD
Compensation as of Fiscal Year 2014.

HMV Group plc Key Developments

HMV Stores in Edinburgh to Close

EDINBURGH has suffered a double blow after the new owner of the HMV music and DVD chain ordered a string of store closures. Restructuring outfit Hilco acquired the retail business last April after it fell into administration following a lengthy battle with supermarkets, online retailers such as Amazon, and digital downloading and streaming. It promised an enhanced music and visual range after completing its rescue deal, which encompassed 141 stores, including 25 which had been earmarked for closure by administrators at Deloitte. Nine shops trading under the Fopp brand, which has Scottish roots, were included in the deal. But a number of store closures have now emerged across the UK, with shops in Leith's Ocean Terminal shopping centre and Fort Kinnaird on the outskirts of the Scottish capital staging closing-down sales. The two outlets had initially been earmarked for closure in 2013 when administrators were appointed, along with a flagship Princes Street branch, which remains open.

Paul McGowan to Join HMV Group plc as Chairman

Hilco completed the HMV acquisition deal. This will save the HMV brand, 141 stores and about 2,500 jobs. All 9 Fopp stores which HMV owned were also included in the purchase. Paul McGowan, the UK chief executive of Hilco, will become the chairman of HMV Group plc.

HMV Group plc to Close a Further 37 Stores

Deloitt announced that it plans to close a further 37 stores of HMV Group leading to the loss of 464 jobs. The closures, to take place over the next four to six weeks, come on top of the 66 stores already set to be shut. This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern.

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