LONDON (AP) - Canadian retailer Sunrise Records is pulling stricken retailer HMV out of bankruptcy in a deal that will safeguard some 1,500 jobs.
However administrator KPMG says 27 stores will close immediately, resulting in a loss of 455 jobs.
The move comes amid extreme pressure on physical retailers as customers buy more online. Poundworld, Toys'R'Us and Maplin went under last year, and major retailers like Debenhams are closing stores.
Management professor Christian Stadler...
Sign up today to gain access to 5 free articles a month from over 200 top subscription outlets.
Are you ready to take your business development to the next level with RelSci Professional?
Nurture your network with daily alerts that notify you when your relationships make news
Map your relationships to any target or prospect to identify a warm introduction
Access unlimited deep dossiers on over 8 million decision makers
Best of all, you can try out all these powerful business development tools absolutely free for 30 days!
Check out News Home to stay on top of the people and organizations you care most about.
