ERA statement on HMV's administration28 December 2018 - Press release
Following this morning's reports that High Street entertainment chain HMV has gone into administration, Entertainment Retailers Association CEO Kim Bayley said, "After what has been widely reported as a tough fourth quarter for retailers, HMV is not the only High Street name facing tough decisions right now. It is a fast-moving situation and it is too early to say how it will end. What is clear is that following its first move into administration in 2013, HMV has enjoyed a remarkable turnaround and it is conceivable that this will happen again. The fact is the physical entertainment market is still worth up to £2bn a year so there is plenty of business there. For the sake of HMV's staff, customers and suppliers, we are very much hoping HMV can turn things around again."