The job of CEO Trevor Moore is among 60 head office positions thought to have been axed at HMV as the firm’s administration proceedings start to bear their teeth, multiple sources are reporting.
Deloitte – which took over the retailer’s affairs when HMV filed for administration in January – announced the redundancies earlier today but refused to confirm whether Moore was among those being shown the door.
On Thursday, the professional services firm revealed that 66 unprofitable stores would be shuttered in the next two months, with a human cost of some 1,000 jobs.
Prior to joining HMV in 2012, Moore headed up operations at another high street stalwart, Jessops.
The popular photography chain also filed for administration in January, with its physical retail outlets closing their doors for good within a matter of days. However, the Jessops brand was recently saved by Peter Jones, the entrepreneurial whiz of Dragon’s Den fame.
Restructuring specialist Hilco recently bought HMV’s debt, though Deloitte is still looking to offload significant parts of the business.
Onlookers generally rate HMV’s survival prospects as good at this stage. It is understood that the organisation that endures will be a leaner business with a stripped down physical retail estate and amped up online presence.Leave a comment on this article