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HMV goes bust: retail giant enters administration, stores st

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£300 million bailout request falls through

UK electronics and entertainment retailer HMV has announced that it will enter administration today, after revealing that it will be unable to honour debt payments due by the end of January. Around 4500 jobs and over 200 stores are at risk.... read more

HMV goes bust: retail giant enters administration, stores st

Postby TinnoUnited » 15 Jan 2013, 10:48

Sad, but shouldn't be a shock to anyone. We can't really complain about it either, unless you bring tax into it.
Last edited by TinnoUnited on 15 Jan 2013, 10:58, edited 1 time in total.
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HMV goes bust: retail giant enters administration, stores st

Postby SkinnerChinner » 15 Jan 2013, 10:50

A shame, however, is it just me or do HMV always seem to be the most expensive?

And Deloitte as administrators? I feel sorry for the workers whose jobs are at risk - especially if it can't be saved, the rep sent to my old Woolworths store when liquidation began was un-cooperative, unhelpful & just plain rude at times.
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HMV goes bust: retail giant enters administration, stores st

Postby msbhvn » 15 Jan 2013, 10:53

Read about this earlier and it made me a bit sad, but HMV have been circling the drain for years. They couldn't be bothered even attempting to compete with online stores, but every so often I'd find something for a good price and buy it. Hopefully someone will step in and buy them, because they deserve to survive a lot more than GAME with its "let's just add £3 to the price of everything" policy.
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Re: HMV goes bust: retail giant enters administration, store

Postby RetroDad » 15 Jan 2013, 11:15

msbhvn wrote:Hopefully someone will step in and buy them, because they deserve to survive a lot more than GAME with its "let's just add £3 to the price of everything" policy.


You know it. I wouldn't be surprised if GAME falls for a second time. Can't speak for all stores, but my local Bromley branch has been shocking of late. The price of chart games and general knowledge / customer service have failed to impress. There is just an element of nostalgia I have about being able to walk into a store to browse though. I can't remember the last time I was in a branch of HMV, which is telling in itself.
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Re: HMV goes bust: retail giant enters administration, store

Postby Bezza89 » 15 Jan 2013, 11:25

Think I'll join in; it's bad for the staff but HMV never adapted for the online retail sector and are more expensive than gold hats. You can't keep charging preinternet prices in an age where it's dirt cheap on the internet and piracy is also rife.
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Re: HMV goes bust: retail giant enters administration, store

Postby STE MO » 15 Jan 2013, 12:46

I have no sympathy for the company, I really feel for the staff. Instead of HMV sticking to what they know they seem to have diversified and moved into a jack of all trades company. They should have streamlined the business and tried to compete with itunes. But instead they've filled their stores with an abundance of stock that never gets sold and cloggs all the walkways. I remember when evrything at my old local HMV was tidy and organised, now it's stacks here, there and everywhere. Can't get into the shop with the wife in her wheelchair either. I hope it pulls through though and sorts itself out.
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Re: HMV goes bust: retail giant enters administration, store

Postby CunningSmile » 15 Jan 2013, 12:52

RetroDad wrote:
msbhvn wrote:Hopefully someone will step in and buy them, because they deserve to survive a lot more than GAME with its "let's just add £3 to the price of everything" policy.


You know it. I wouldn't be surprised if GAME falls for a second time. Can't speak for all stores, but my local Bromley branch has been shocking of late. The price of chart games and general knowledge / customer service have failed to impress. There is just an element of nostalgia I have about being able to walk into a store to browse though. I can't remember the last time I was in a branch of HMV, which is telling in itself.


My local GAME has just closed and moved to one of the branches they originally closed, go figure.

And I think the last time I was in HMV was just before Christmas because I got caught in the rain and they had the largest door. Can't remember the last time I shopped there though.
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Re: HMV goes bust: retail giant enters administration, store

Postby vadersmyfather » 15 Jan 2013, 13:15

RetroDad wrote:There is just an element of nostalgia I have about being able to walk into a store to browse though. I can't remember the last time I was in a branch of HMV, which is telling in itself.


For me, buying anything in stores nowadays is reserved for knee-jerk decisions.
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Re: HMV goes bust: retail giant enters administration, store

Postby FishyGinger » 15 Jan 2013, 13:23

CunningSmile wrote:
My local GAME has just closed and moved to one of the branches they originally closed, go figure.

And I think the last time I was in HMV was just before Christmas because I got caught in the rain and they had the largest door. Can't remember the last time I shopped there though.


On the high street? I saw the gamestation was it that had closed down around the corner near the dark and dingy mall. Otherwise the ladyfriend and I were in hmv as she was buying some cds. I also picked up breaking bad series 1-3 for 20 squids which seemed a good price.
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Re: HMV goes bust: retail giant enters administration, store

Postby CunningSmile » 15 Jan 2013, 13:50

They originally closed the one in the Darth Mall (Westquay) in favour of one tucked around a side street that no one can ever find, but just before Christmas they swapped. Wonder which set of staff ended up out of work?
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Re: HMV goes bust: retail giant enters administration, store

Postby Plamsa wing » 15 Jan 2013, 14:33

Last time I went into HMV was the one in Wakefield, that was two years ago, didn't even buy anything. As of late they've been quite tight on their prices, reminds of Morrisons selling games down here.

Haven't actually bought anything from them since the Colour of Magic came out on DVD and I bought the 2 disc edition.

Pretty sure Zavvi were cheaper when they first popped up.

Bad news for the staff with their jobs at risk, but HMV have had it coming really.
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Re: HMV goes bust: retail giant enters administration, store

Postby RetroDad » 15 Jan 2013, 14:45

vadersmyfather wrote:For me, buying anything in stores nowadays is reserved for knee-jerk decisions.


In addition, the pester power of my kids, who do not understand the concept of saving or looking for deals elsewhere.

"But I bet this is cheaper online, can't you just wa-"

:evil: "WANT IT NOW!!!" :evil:
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Re: HMV goes bust: retail giant enters administration, store

Postby FishyGinger » 15 Jan 2013, 15:16

CunningSmile wrote:They originally closed the one in the Darth Mall (Westquay) in favour of one tucked around a side street that no one can ever find, but just before Christmas they swapped. Wonder which set of staff ended up out of work?


That mall around the corner from forbidden planet (yes turns out the ladyfriend does want to spend hours looking at the books downstairs) is scary. Seems like the best place to sell your own organs. Only known the one in Darth Mall to be open. Along with the pointless HMV pop up.

Still, maybe HMV will have a sale. Hoping for up to and including 1% off.
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Re: HMV goes bust: retail giant enters administration, store

Postby GHOSTY05 » 15 Jan 2013, 15:29

I do feel for the staff as it now seems i am in the same situation.

I have just been given 6 months notice of possible redundancy after 8 years working at the same place on a great wage, looks like i wont be buying the new xbox this year!

Very depressing i can tell you that now!
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Re: HMV goes bust: retail giant enters administration, store

Postby FishyGinger » 15 Jan 2013, 16:04

GHOSTY05 wrote:I do feel for the staff as it now seems i am in the same situation.

I have just been given 6 months notice of possible redundancy after 8 years working at the same place on a great wage, looks like i wont be buying the new xbox this year!

Very depressing i can tell you that now!


Balls, unlucky chum :(
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