UP to 100 Scottish jobs are at believed to be at risk after music chain HMV fell into administration for the second time in six years.
High business rates, weak consumer confidence and the rise of online streaming services have taken their toll on the entertainment retail giant. There are nine HMVs in Scotland, including stores in Glasgow, Edinburgh, Aberdeen, Dundee, Inverness and Ayr.
The company also runs the three Fopp stores in Scotland.
Paul McGowan, executive chairman of HMV, blamed the internet, high business rates and the “general malaise” of the UK high street.
He said: “Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months.”
The group, which first opened in 1921, has around 130 stores and employs more than 2,000 staff in the UK.
When the firm struggled in 2012 investment firm Hilco stepped in, saving 141 UK stores and around 2,500 jobs, though shops in Edinburgh’s Princes Street, Glasgow Fort, Dumfries and Kirkcaldy were closed.
HMV customers have been advised to use their Christmas vouchers as soon as possible, before they become worthless.