6 March 2013 Last updated at 12:01 ET

HMV Guernsey follows parent company into administration

HMV Guernsey, which operates the island's last remaining record shop at St Peter Port market, has gone into administration.

Rick Garrard and Nick Edwards of Deloitte have been appointed joint administrators to the company, which is part of the HMV Group.

HMV's UK retail businesses - along with its Jersey operation - were placed in administration on 15 January.

The Guernsey store has remained open while a buyer is sought.

Mr Garrard said: "The Guernsey store continues to trade as normal and continues to accept gift vouchers.

"We will work closely with the HMV administrators in the UK, local management and staff to continue trading whilst pursuing a sale of the business."