THE threat hanging over the future Llandudno’s HMV store’s nine employees has been lifted.
The Mostyn Street store is not listed for closure following the sale of the business to Sunrise Records and Entertainment, of Canada, whose owner is Doug Putman.
Sunrise Records will acquire 100 stores across the UK, and 1,487 employees will transfer as part of the transaction.
The stores will continue to trade as HMV, with four stores continuing to trade as Fopp. The chain went in administration last year and KPMG’s Restructuring practice was appointed joint administrators on 28 December. Unfortunately, 27 stores have not been acquired, and will be closed with immediate effect, resulting in 455 redundancies.
“We know the physical media business is here to stay and we greatly appreciate all the support from the suppliers, landlords, employees and most importantly our customers.” ref Pioneer