HIGH Street entertainment chain HMV has announced it is to go into administration.
The music and DVD company, which has stores in Gloucester and Cheltenham, is expected to call in administrators from Deloitte today.
The company, which opened its first shop on Oxford Street in, has a workforce of more than 4,500 people, whose jobs are all now at risk.
It is the latest retail casualty after camera retailer Jessops shut its shopslast week.
A spokesman for HMV has confirmed it is no longer accepting vouchers as payment at any of its 240 branches and is not issuing them either.
Trading in HMV shares on the London Stock Exchange has been suspended.
Deloitte LLP is expected to will keep HMV's stores in the UK and Ireland open while it looks at the business and for potential buyers.
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