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HMV Prepares to go into Administration

UK music, film and game retail chain HMV is set to go into administration as soon as tomorrow.

The 92-year old company has been struggling for quite a while now, battered by the recession, supermarkets, online retailers and digital downloads. In an effort to handle their spiraling debt, HMV sold off the book store Waterstones for £53m and the Hammersmith Apollo for £32m. But…

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