The HMV Group has confirmed to music business clients that its shares are being suspended from the London Stock Exchange with immediate effect as it files for administration.

HMV will continue to trade on the High Street as administrators Deloitte search for a buyer, the firm said tonight.

Reports began circulating earlier this evening that the administration of the company would be confirmed tomorrow morning.

HMV is reported to have asked suppliers for an extra £300m in funding last week ...