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"Going into administration gives HMV an opportunity for a substantial and decent rebirth."

Business quote of the day.

New Statesman
Photograph: Getty Images

Andy Heath, chair of UK Music, speaking on the Today Programme:
 
"There is still significant and very large demand for people wanting to buy music in the high street. I think there is a place for a chain but the chain needs to be focussed in a way HMV was unable to be focussed.
 
"Going into administration gives HMV an opportunity for a substantial and decent rebirth."