HMV to pull out of Germany

HMV is pulling the plug on its German business after disappointing sales at its three pilot stores.

Two outlets, in Frankfurt and Munster, will close at the end of this month, while its flagship store at the Centro retail park in Oberhausen will continue until lease negotiations have concluded.

The Berkshire-based group says the restructuring charge, including staff costs, is expected to be around £1 million, but insisted this would not hit full year profits.

A spokesman for HMV says the music market in Germany appears to be "focussed very much on price and little else"