HMV Ireland slips into the red after sales fall

Sales of bestselling CDs by Lady Gaga, Adele, Katy Perry and Take That were not enough to prevent the Irish arm of HMV going into the red last year.

Accounts just filed by HMV Ireland Ltd to the Companies Office show that the company recorded a pre-tax loss of €2.5 million in the 53 weeks to the end of April 30, 2011.

This follows the firm recording a pre-tax profit of €631,000 the previous 52 weeks to April 24, 2010.