A London & Regional and Goldman Sachs JV property company was placed into administration following the collapse of Woolworths, which had closed its last store a week earlier.

Woolsworth HMV

Will HMV go the same way as former Woolsworths stores in ten years’ time?

Source: Jaggery/Roger Kidd/Geograph

The JV, which bought 152 Woolworths-let stores as part of a £614m deal when it was set up in 2001, went into administration to protect it from paying empty rates liabilities on the vacant stores.

Meanwhile, music retailer HMV was still in growth mode buying 14 stores from rival chain Zavvi, which had gone into administration a month earlier. Ten years and two administrations later, it is HMV that is now peering into the abyss.