HMV has branches at Bournemouth's Avenue Centre and Poole's Dolphin Centre.
HMV said it sold 31% of all physical music in the United Kingdom and 23% of all DVD and Blu-ray and that its market share had grown month by month throughout the year.
"Over the coming weeks, we will endeavour to continue to operate all stores as a going concern while we assess options for the business, including a possible sale", he added.
According to consumer publication Which?, whether vouchers and returns will be accepted following administration depends on the administrators.
The firm saw HMV host live events in store, with musicians including Kylie Minogue, Stormzy and The Darkness.
But it admitted the explosion in online streaming services such as Netflix and Spotify was leaving it unable to compete.
McGowan said: "The last few years have seen a unique partnership forged between the HMV retail business and its major suppliers in the music and movie industries across the UK, USA and Canada".
HMV - which had a hand in The Beatles' big break in the 1960s, recommending the group's demo record to publishers - had around 230 stores and over 4,000 staff before it went into administration in 2013.
"Poor Christmas trading has claimed its first victim", Richard Lim, chief executive of Retail Economics, told the BBC.
"The fact is the physical entertainment market is still worth up to £2bn a year so there is plenty of business there".
However, the number of British shoppers hitting the post-Christmas sales dipped this year, offering no relief for struggling stores that had already discounted heavily to encourage spending in the run-up to the holiday.
His Master's Voice (HMV), which is known worldwide for its iconic logo showing a dog listening to a record player, is the last major music retailer in Britain and has been suffering for years from the decline in physical sales of CDs and DVDs.
It was launched by English composer Edward Elgar in 1921, selling gramophones, radios and popular music hall recordings.