Friday, August 19, 2022

HMV CEO axed amid further job cuts

Administrators for troubled entertainment retailer HMV have today announced a further 60 job cuts, including that of HMV CEO Trevor Moore, Retail Gazette understands.

Following news yesterday that 66 loss-making stores are to close in the next two months, Deloitte explained that such a restructure of its store portfolio made further head office redundancies necessary.

Nick Edwards, Joint Administrator, said: “Following our announcement of the closure of 66 stores yesterday, it has been necessary to consider the head office support required for the reduced store portfolio.

“As a result of this review, a number of redundancies at the head office have been made.”

It is understood that Moore has left the business after only six months in the role, having been brought in to replace Simon Fox, who had been with the retailer for six years.

Prior to his role with HMV, Moore was chief of photographic retailer Jessops, which fell into administration just a week before HMV due to rising competition from smartphones and a deterioration of its core market.

Administrators were appointed to HMV last month and are working to restructure the business to ensure its high street survival.

Commenting on today‘s job losses, Edwards concluded: “This has been a difficult decision, but a necessary one in restructuring the business.

“We would like to express our gratitude to staff for their continued support during the administration.”


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