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| HMV: Debt-laden retailer may appoint administrator | HMV: Debt-laden retailer may appoint administrator |
| (35 minutes later) | |
| HMV, the music and DVD retailer employing about 4,350 staff, may appoint an administrator, becoming the latest High Street casualty. | HMV, the music and DVD retailer employing about 4,350 staff, may appoint an administrator, becoming the latest High Street casualty. |
| Deloitte was being lined up to run the 239-store chain following a meeting of the HMV board on Monday evening, the BBC understands. | Deloitte was being lined up to run the 239-store chain following a meeting of the HMV board on Monday evening, the BBC understands. |
| A formal announcement is expected later. | A formal announcement is expected later. |
| HMV has been in crisis for months, and in December warned it faced a possible breach of bank loan agreements. | HMV has been in crisis for months, and in December warned it faced a possible breach of bank loan agreements. |
| The retailer has faced intense competition from the boom in buying music and DVDs online. | |
| Last week, the company announced a month-long sale with 25% off prices, sparking worries that HMV needed to shift stock after poor Christmas trading. | |
| The company's troubles underline the gloom on the High Street and comes after a string of high profile failures, including Jessops' closure last week and Comet's collapse last year. |