Deloitte has revealed that struggling retailer HMV owed £347m of debt when it announced it was going into administration in January this year. It is also looking to sell the business before quarterly rent is due on March 25.

The Telegraph reports that new documents have brought to light the extent of the company’s financial woes, adding to the previously reported unpaid tax number of £20m and total debt of £182.3m owed in the six months to the end of ...