The Entertainment Retailers Association has expressed its support for HMV saying it’s possible to “rescue something out of this situation” after the entertainment retail chain slipped into administration today.

Director General of ERA Kim Bayley said that High Street retailers who would usually compete with HMV have been quick to rally around the troubled outlet.

She also pointed to video games retail chain GAME, which found itself in a similar situation last year but was able to alter its fortunes ...