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

Business quote of the day.

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.”