I suspect like Jessops, JJB, FOCUS, COMET etc it will not survive as the Administrator will not have appetite for an innovative solution that will save jobs, high streets etc. Their appetite will be to earn as much in fees as they can to wind up the business over as protracted a period as the can get away with, leaving sod all for creditors.
The system is wrong and needs to change to ensure that businesses such as HMV get a reasonable opportunity to rise from the ashes following a call to administrators. But guess what, administrators are not incentivised to resurect failed companies.
HMV and Jessops are the first of at least a dozen established retail brands set to fail this year. Who will be next … Blacks?