Hundreds of Scottish jobs are at risk after music and film chain HMV announced it is to appoint administrators.
The ailing firm is expected to formalise the appointment of insolvency firm Deloitte on Tuesday, with 4350 jobs across the UK at risk.
Of its 230 HMV outlets, around 21 stores are based in Scotland, while many across the country will be unable to use Christmas gift cards for the shop after the collapse of the firm.
HMV Group plc suspended trading its shares on the London Stock Exchange on Tuesday and announced that it proposes to appoint administrators.
It came after it said in December that "current market trading conditions" left the company facing "material uncertainties" meaning it would most likely default on bank loan repayments before the end of this month.
In the statement on Tuesday, the group said: "However, the board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection, and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect.
"The directors of the company understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business."
HMV Group bought over some branches of the music and film retailer Fopp in 2007 after it collapsed. Eight Fopp stores remain in operation across the UK, including two in Glasgow and one in Edinburgh, which are also at risk from closure.
Suppliers including Universal Music came to HMV's rescue in January 2011 with a deal which helped the retailer shed some of its huge debt pile.
It operated at a loss of ?24.1m in the six months leading to last October. The group brought in Trevor Moore as a new chief executive last year as he moved from camera chain Jessops, which went into administration last week at the cost of 1370 jobs across its 187 stores.
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