HMV close to administration, 2,200 jobs at risk

It's the second time the brand has faced financial crisis in the last six years

HMV is on the brink of entering administration. Britain's biggest high street music retailer filed a notice of intention to appoint administrators last week, according to reports. If the chain was to collapse, its 2,200 employees could all lose their jobs, as well as the British high street losing its last specialist music retailer. Sky News reports HMV "has been in talks in recent days with leading names in the recorded music industry to seek financial support." In 2013 HMV, then a publicly traded company, fell into administration. Online streaming services, like Spotify, have ripped the analogue music industry to pieces in recent years. Hilco and KPMG did not comment on Friday.