UK retail giant HMV is headed for trouble and with 230 stores and 4,000 jobs hanging in the balance, the company’s directors are scrambling to find a way out of one very deep financial hole. Via The Line of Best Fit:

Late last week, HMV asked its suppliers for approximately £300m in additional financing to help pay off its debt and fund an overhaul of the company’s business model. The proposal has been turned down and it is expected that Deloitte are soon to be appointed as HMV’s administrators.

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