Suppliers to struggling retailer concerned about its future

Suppliers to HMV have been denied trade credit insurance, according to the Guardian.

The Guardian says an email message it has seen states that one trade credit insurance firm removed cover on January 12.

And suppliers have been firing off emails to record labels and publishers demanding a pledge that should HMV go into liquidation, debts would be covered.

Two weeks ago HMV announced plans to shut 40 stores, as well as 20 Waterstone's shops, the book chain it owns.

Analysts have questioned whether the business has a viable future and its shares have lost 80% of their value in the last two years.