HMV bought by Canadian music store mogul Doug Putman

The HMV store in Canterbury

The HMV store in Canterbury

The deal by Doug Putman, the owner of Sunrise Records, means that the majority of the business which collapsed into administration in December for the second time in six years will be rescued.

Douglas Putnam, who runs Sunrise and bought HMV's Canadian unit in 2017, will gain control of 100 stores across the U.K., KPMG LLP said Tuesday.

The music store, that also sells games and DVDs, has been a fixture in Reading, Berkshire for years, with its former branch in Friar Street and its remaining shop in The Oracle.

City AM understands that senior staff at branches in the firing line were informed of the closures on a conference call with senior management earlier today.

Sunrise, which is owned by music mogul Doug Putman, will acquire 100 stores across the United Kingdom, securing the future of 1,487 store staff.

But the youngish entrepreneur also said that 27 "under-performing" stores would close with immediate effect, resulting in 455 redundancies. A further 122 employees at warehouses will be retained to assist in winding-down operations.

Speaking on Tuesday, February 5, Mr Putman said: "We are delighted to acquire the most iconic music and entertainment business in the United Kingdom and add almost 1,500 employees to our growing team".

A message on the intu Merry Hill HMV store telephone number tells customers to go to the store in the Mander Centre, Wolverhampton, instead.

Worried Harrogate staff at HMV look still to be safe after the sale of the United Kingdom retail giant to a Canadian music retailer.

Public Health reports no new Clark County measles cases
UK Home Secretary orders Vijay Mallya's extradition to India