Struggling retailer HMV today said it was looking to sell its live music division as it bids to bolster its finances after it nearly doubled half-year losses.

The group, which recently sold bookseller Waterstone's, said it was placing HMV Live, which runs 13 venues including the Ritz and GAY, in Manchester, and a number of festivals including Lovebox in London and Global Gathering near Stratford-upon-Avon, under strategic review which may lead to its sale.

Elsewhere, HMV, which owns 252 stores in the UK, said its shift in focus to technology products, which has seen 144 stores refitted to reflect the new emphasis, was paying off with like-for-like sales of headphones, speakerdocks and tablet computers up 144 per cent.

But the company revealed a bottom-line pre-tax loss of £45.7m in the 26 weeks to October 29, compared to £27.4m last year, while like-for-like retail sales fell 13.2 per cent in the seven weeks to December 17.

click here