HMV going into administration

[enaid]

HMV music and film chain to appoint administrator

Poor Christmas sales compounded HMV's financial crisis

Music and DVD chain HMV is to appoint an administrator, making it the latest casualty on the High Street and putting about 4,350 jobs at risk.
Deloitte will keep HMV's 239 stores in the UK and the Republic of Ireland open while it assesses the prospects for the business and seeks potential buyers.
Trading in HMV shares on the London Stock Exchange has been suspended, HMV said in a statement.
The firm said it would not be accepting gift vouchers or issuing any more.
HMV, which was started in 1921, has struggled against online retailing.
The company's troubles underline the gloom on the High Street and come after a string of high-profile failures, including the closure last week of camera retailer Jessops and the collapse of electrical goods chain Comet last year.
In its statement, HMV said: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect."



http://www.bbc.co.uk/news/business-21021073

[Inca]

Re: HMV going into administration

I happen to know someone who took about £200 worth of gift cards from FIL's house for 'safekeeping'..oddly enough Rob asked to see them last week 'just to check' and they were still there,,no use to anyone now and that makes me very very happy

[wales01man]

Re: HMV going into administration

The retail world is changing more retailers will go under look at prices in shops and then go on line as most people pay by card and there are safeguards buying online this is the future,as for music cds you can get it cheaper by downloading or free on youtube i just feel sorry for the workers

[Inca]

Re: HMV going into administration

Yep,,Technology is taking over the asylum.

[Sapphire]

Re: HMV going into administration

I happen to know someone who took about £200 worth of gift cards from FIL's house for 'safekeeping'..oddly enough Rob asked to see them last week 'just to check' and they were still there,,no use to anyone now and that makes me very very happy

Glad to hear it, my mum always used to say that God pay's debt without money.

[Inca]

Re: HMV going into administration

Glad to hear it, my mum always used to say that God pay's debt without money.

My ole Duchess used to say exactly the same thing!!!( I never knew what it meant for years,,I'm a tad speshul dontchano)

[The Debt Star]

Re: HMV going into administration

The thing about internet shopping is that the stuff doesn't always arrive! Also there's no pleasure in browsing items and, most importantly, no stop off at Costa to have a coffee and look at the items bought!

[FlamingParrot]

Re: HMV going into administration

Certain things are much more suitable for internet shopping than others, for example clothes and shoes are not easy to buy online, even though I know there are people who do, I don't think I would.

I haven't had a problem with goods not turning up, however, having to be there to receive the goods can be a problem if you have to work and there's no-one else to sign for them. The supermarkets have pretty much solved this problem with their two hour slots, however, buying groceries online is not quite the same as going to the supermarket.

With regards to music, games and movies, the sort of stuff HMV sells, there's also a lot of piracy involved in that area.

[The Debt Star]

Re: HMV going into administration

Excellent points. It also gets people out of their houses rather than plonked in front of their computers and TVs. That said, there is a lot to eb said for interbnet shopping and I think you've hit the nail on the head with regard to suitability.

I've had a few things not show up or, more often, getting sent back to a delivery depot in the next town which is a complete pain.