According to reports, the UK arm of failed high street retailer HMV will apparently be shuttering up to 100 stores in the near future; thereby hinting at a potential loss of nearly 1500 jobs.

Speculations are rife that the recent debt takeover by Hilco, the HMV Canada's owner group, may prompt HMV's administrator Deloitte to announce that between 60 and 100 HMV music stores will be shut down this week; with the move likely to affect around 1500 employees.

Though all the over 4,120 jobs and 223 HMV outlets were put at a potential risk of closure last month when HMV went into administration, the likelihood of a rescue deal started surfacing after restructuring firm Hilco decided to buy out the company's debt.

Since HMV's administrator Deloitte is still continuing to handle the affairs of the company as of now, it is not yet confirmed as to how many of the speculated 100 store closures will come through. However, reports have revealed that the shutting down of up to a total of 160 HMV stores has probably been planned.

With Deloitte having already cut 190 jobs at the head office and distribution centres of HMV last week, the most recently reported plans of shuttering up to 100 stores will leave the retailer with between 120 and 160 outlets.