UPDATE: Deloitte appointed receiver to HMV Ireland

The expected move means that the Irish operation is now in administration.

The mass confusion over legal standing and music vouchers comes to an end this afternoon, as David Carson of Deloitte is appointed receiver of HMV Ireland.

Hot Press broke the news this morning that HMV bosses had headed for the High Court in order to seek protection. The move followed calls from the National Consumer Agency to honour music vouchers, and an amount of public outrage, when it was revealed that HMV Ireland was not in administration.

The appointment protects HMV Ireland whilst in examinership, as Carson assess the viability of the company and its cost structure. Deloitte have commented that HMV is an "iconic brand" and will seek to find buyers and keep as much of the operation viable as possible.

It paves the way for HMV stores to re-open their doors and continue their sale, with the proviso that vouchers will not be accepted.

As always, stay with [link]www.hotpress.com[/link] for more information.


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