THE future of Bangor’s HMV store hangs in the balance after the retailer went into administration.
Wide-spread closures are expected but the boss of the stricken chain has said there is still a viable future for the 92-year-old business which employs more than 4,350 people.
Bangor’s deputy mayor Doug Madge said: “This is awful news for Bangor.I hope HMV will stay and stay in Bangor.
“They have said they are closing stores but I think with the student population in Bangor the city makes a good case to stay open.
“I hope is stays for the students.
It is a case of wait and see.”
Cllr Madge said the arrival of HMV was instrumental in bringing other retailers and investment to the town.
HMV chief executive Trevor Moore said he was “confident “ a solution wil be found despite appointing administrators after suffering dismal Christmas sales.
Potential suitors are already said to be eyeing a rescue deal but there are fears of widespread closures among HMV’s 239 stores.
Some consumers have been left out of pocket after HMV stopped accepting gift cards and vouchers.
All of HMV’s outlets will remain open while Deloitte attempts to find a buyer for some or all of the business.