Daily Telegraph: "HMV calls in administrators, putting 4,350 jobs at risk"

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"HMV has called in administrators from Deloitte, putting 4,350 jobs and 238 stores at risk, as it becomes the latest retail casualty on the high street.

"HMV raised cash last year by selling off book store Waterstones for £53m, and the Hammersmith Apollo music venue for £32m. It has also shifted its emphasis from the fast-declining CD and DVD market to new technology products.

"The demise of HMV is the latest blow to the high street, which has seen stores such as JJB Sports and Comet collapse in recent months. HMV’s chief executive, Trevor Moore, previously led camera chain Jessops, which fell into administration last week. HMV outlasted most other high street music retailers, with Woolworths and Zavvi both victims of the downturn in 2008."