HMV to accept gift cards - administrators

Monday 21 January 2013 Updated: 31/01 09:33

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HMV stores will begin to accept gift cards again from Tuesday.

Administrators announced the move almost a week after their use was suspended when the music store confirmed its financial troubles.

They have also confirmed proceeds raised by HMV through the sale of charity releases (including the Hillsborough Justice Collective single) would be paid in full as soon as possible.

There are believed to be significant interest from potential buyers of the brand.

Nick Edwards, from Deloitte, said: "Since our appointment as joint administrators on Tuesday afternoon, we have been urgently assessing HMV's financial position.

"We recognise that both of these matters have caused concern for individuals and organisations affected and are pleased to have reached a positive outcome.

"We will continue to assess the longer term options for the business whilst continuing to trade. I am hopeful this process will result in the business continuing as a going concern."

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