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Music retailer HMV 'to appoint administrators'

High street retailer HMV has confirmed it will enter administration and suspend its shares on Tuesday.

The company announced a profit warning before Christmas and was known to be in trouble because of competition from online sales. It employs about 4,350 staff.

HMV's announcement comes after a string of high profile failures, including Jessops' closure last week and the collapse of Comet last year.

The BBC's Emma Simpson reports.

  • 14 Jan 2013