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15/01/2013
HMV Collapse 'Worrying'- Sinn Féin
Sinn Féin Employment spokesperson Barry McElduff has described as "worrying" the news that major music retailer HMV is to appoint an administrator.
He said: "What the last few days have shown is that many of the big retail names on the high street or in our shopping centres are not immune in the current financial climate."
The past week has seen other high street names such as Jessops and Hoi Polloi appointed administrators.
It is thought 4,350 jobs are at risk at HMV.
The chain’s 239 stores in the UK and the Republic of Ireland are to be kept open while owners Deloitte assess the prospects for the business’s future.
Trading in HMV shares on the London Stock Exchange has been suspended, and the firm has said it would not be accepting or issuing gift vouchers.
It is thought HMV is yet another casualty of online shopping.
Mr McElduff continued: "January is a very difficult month for many businesses that rely on their sales from the Christmas period to keep going in the first quarter of the New Year. Many of these well-known high street names have provided good employment over the years.
"We also have to remember these closures will have a knock on effect for the shopping centres that will lose the rent and local councils who will lose the rates money.
"It is very important whatever happens that all worker rights and entitlements are honoured and that staff are allowed flexibility to find new jobs during any period of closure."
(IT)
He said: "What the last few days have shown is that many of the big retail names on the high street or in our shopping centres are not immune in the current financial climate."
The past week has seen other high street names such as Jessops and Hoi Polloi appointed administrators.
It is thought 4,350 jobs are at risk at HMV.
The chain’s 239 stores in the UK and the Republic of Ireland are to be kept open while owners Deloitte assess the prospects for the business’s future.
Trading in HMV shares on the London Stock Exchange has been suspended, and the firm has said it would not be accepting or issuing gift vouchers.
It is thought HMV is yet another casualty of online shopping.
Mr McElduff continued: "January is a very difficult month for many businesses that rely on their sales from the Christmas period to keep going in the first quarter of the New Year. Many of these well-known high street names have provided good employment over the years.
"We also have to remember these closures will have a knock on effect for the shopping centres that will lose the rent and local councils who will lose the rates money.
"It is very important whatever happens that all worker rights and entitlements are honoured and that staff are allowed flexibility to find new jobs during any period of closure."
(IT)
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Northern Ireland WeatherToday:A very mild, but mostly cloudy day, although with some bright or sunny spells. It will be mostly dry in the morning, but a little patchy light rain or drizzle at times in the afternoon. Maximum temperature 14 °C.Tonight:A band of heavier rain will move east during the evening before clearing eastwards after midnight. then mostly dry through the early hours, but a little rain towards dawn. Minimum temperature 8 °C.
