Expansion costs drive HMV Ireland into red

Expansion costs drove the Irish business of entertainment retail firm HMV into the red last year, as it recorded a pre-tax loss of €144,000.

The company opened two new stores, in Dublin and Galway, during the 12 months to the end of January 2015, the period for which its latest accounts cover.

This move contributed to revenues more than doubling to €19.66m.