I read somewhat that it has entered administration. If debt obligation restructuring doesn't proceed well, it will go bankrupt.
HMV doesn't have store here, but it has quite a strong presence in Hong Kong. I have business trips to there from time to time so I know this disc stores. Very impressive. Those stores stock very updated music and movie discs from the West and Japan. Plus, most of them have a sector exclusively for western classical music. It would be a great loss if they go out of business.