Reports: HMV set to shut 37 more stores

Troubled retailer's latest round of closures will mean a further 464 jobs lost

Struggling entertainment and technology retailer HMV is set to close another 37 stores and shed 464 more jobs, according to its administrators.

This is on top of the 66 stores already set for closure this year. Stores affected in this round include its premises at Heathrow terminals 1, 2, 3, 4 and 5.

Joint administrator Nick Edwards told Sky News: "As part of our ongoing review of HMV’s financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure.

"This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern.

"Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores."

The firm went into administration on 15 January, but was thrown a lifeline by restructuring specialist Hilco, which bought the firm's debt from HMV's lenders Royal Bank of Scotland and Lloyds.

Sky News also revealed that singer Elton John will perform at an as yet unnamed HMV store in the future to help fight for the chain's survival.