HMV confirms which stores will close, including its flagship Oxford Street branch

HMV store

HMV store

The music entrepreneur will take over 100 shops across the United Kingdom, safeguarding 1,500 jobs.

Canadian retailer Sunrise Records is pulling stricken retailer HMV out of bankruptcy in a deal that will safeguard some 1,500 jobs.

The nearest branch closing is in Peterborough's Queensgate Shopping Centre with the flagship HMV store in London's Oxford Street also shutting up shop.

Here in Blighty, HMV stores will remain under the HMV banner, Putman told Radio 4's Today Programme on Tuesday.

It had been in administration but last night administrators KPMG announced the Canadian company Sunrise Records, owned by entrepreneur Doug Putman, would buy 100 of its stores saving nearly 1,500 jobs.

The Sunrise Records boss is well known for being a music fan himself, especially vinyl.

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HMV has announced which stores will be closed with immediate effect.

Administrator KPMG will retain a further 122 employees at warehouse functions to assist in winding down operations.

The administrators of HMV, KPMG, has released its list of HMV stores planned for closure.

"We know the physical media business is here to stay and we greatly appreciate all the support from the suppliers, landlords, employees and most importantly our customers".

At the time, the executive chairman of HMV - and its owner Hilco Capital which purchased the company in a 2013 rescue package - said a huge slump in the UK's CD and DVD market made its situation "unsustainable".

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