Now HMV Ireland goes into receivership

HMV has closed its 16 Irish stores and has appointed receivers, putting 300 jobs at risk.

However, whereas the administration process – such as that employed by the British arm of HMV – is designed to find a way of keeping a business operating, receivership will mean the end of the retailer.

All Irish stores have now been closed.

Staff at HMV’s two Limerick stores held a sit-in last night, looking for assurances that their wages for the last month will still be paid.

Deloitte Ireland said: "The receiver will institute an assessment of the viability of the company and its cost structure, including property occupational costs. All efforts will be made by the receiver to secure a purchaser for the stores."