Misery and relief has hit the High Street this week with four stores being saved from closure while another has gone into administration.
Music store HMV remains open in Mell Square despite administrators Deloitte announcing 66 store closures - 11 jobs have already gone at HMV’s head office in Solihull but the branch itself remains open for trading.
And Blockbuster stores in Shirley, Acocks Green and Castle Bromwich have also been spared from the axe after the DVD rental store announced it will close a further 164 branches. The firm went into administration last month.
This week clothing chain Republic has become the latest victim of the recession and has announced it has gone into administration.
The young fashion retailer, which has a branch in Touchwood, appointed accountants from Ernst & Young to take over running of the firm.
Hunter Kelly, one of the newly appointed administrators, said Republic suffered poor trading results in the autumn and whilst sales picked up in December, there was a ‘sudden and rapid decline’ in late January.
The borough has been hit by a wave of big store closures in recent months, including Jessops and Comet.