Sadly it is no surprise to analysts that HMV have finally had to admit that they are unable to continue trading and have had to call in administrators Deloitte, to see what can be rescued, with over 4,000 jobs at risk.

A month ago the company issued a warning that they were unable to meet the terms of bank lending facilitites due in January and lack of funding and suppliers withdrawing support, have proved to be the final straws in their battle to stay afloat, their shares suspended today following dismal Christmas sales, despite a substantial discounting programme.

HMV will still have all 239 outlets stores open for business for the time being, while the administrator evaluates the situation and seeks to find a buyer for all or part of the business in some shape or form.

The company has been trading since 1921 and has been unable to cope with the twin threats to its market from the internet and agressive supermarket pricing in the area of film and music sales, HMV's core product lines.

Recent top management changes and product diversification have been too little too late as the dangerous place that is the UK high street, continues to evolve and takes no prisoners.