HMV 'collapse'

[Asmo]

http://www.joystiq.com/2013/01/14/report-hmv-entering-administration/

In administration, News channels reporting 'collapse' of the company. They occupy a lot of expensive rent premises, the stores are almost certain to pack up.

Well, we knew it was coming.

HMV, for the confused, were one of the biggest high-street music stores in the UK/Ireland, that diversified into video games (amongst other things), becoming one of the go-to places for those who still sought their games in the retail real world.

I gather they are having some kind of fire sale on their website, sounds a bit risky at this point though.

 

[Stainy]

ah ffs.jpg! 

Whats left?  Tesco, Poundland and `kin coffee shops

jesus

 

[Phelsumania]

I though HMV had been practically dead for a while now.  Our local hmv shut down 3 years ago but it re-opens once a year in town as a pop up shop between December and January. Guessing its the only time it made any sales.  Perhaps this might become more common place as a last ditch effort to stay alive if there going under

 

[Phelsumania]

ah ffs.jpg! 

Whats left?  Tesco, Poundland and `kin coffee shops

jesus

THere are still hords of awful mobile phone shops. My local shoping centre contains 1 sports shop, no hmv/zavvi style multimidia stores. One second hand computer game shop, no game/ gamestation etc. A cople of womens cloths shops, an arArgos, jewelrs and 6 phone shops. Ratio of phone shops to evrything elss takes the p!ss

 

[Nintendo]

Awwwwww, they were about to stock the Archos Gamepad

 

[Wrath Of Khan]

They have fairer prices for games than rip off gamestop.wonder if my local is closed was open last week

 

[2bit]

Maybe just maybe they are downsizing and will stay open

 

[Asmo]

Looks terminal, they're bankrupt and are unable to pay rent - they've traditionally occupied large premium location stores. There was a time when the business could justify that, but rents have rocketed and their core business can't justify the extravagance and be able to compete with Amazon or iTunes.

It's a huge brand though, so it'll probably be kept alive by some kind of operation, but it's really unlikely their stores can be propped up any longer.

 

[freamon]

I imagine it'll be like Game. They'll go into administration, another company will buy the assets, and keep some of the more productive shops open under the same name.

It's no great surprise - they've been doomed for a while. They recently tried shifting their focus to gadgets and headphones, but I think everyone still treats them as the-DVD-store-you-don't-actually-buy-many-DVDs-from.

 

[kojack]

HMV disappeared in australia a while ago, it was bought out by Brazin (owner of Sanity and Virgin Megastores) in 2005. Stores either shut down (like the big one in brisbane, queen street) or were rebranded.

 

[CAZMIESTER]

Just feel sorry for all the people who stayed loyal bought gift cards and now they are the ones being shafted ironic or what

 

[ZXDunny]

Just feel sorry for all the people who stayed loyal bought gift cards and now they are the ones being shafted ironic or what

Lol, that sounds familiar!

Just feel sorry for all the people who stayed loyal bought gift cards 1GHz upgrades and now they are the ones being shafted ironic or what

D.

 

[Mr_Loon]

Just feel sorry for all the people who stayed loyal and bought 1GHz upgrades* and now they are the ones being shafted ironic or what

D.

* From OP Ltd not OP GmbH

Fair point but slightly edited for additional fairness

 

[Fzero]

they slept and got overtook years ago, HMV should've been what Amazon became, I think they focussed too much on cd and not so much on downloads.


like LOOT, they used to run things, then times changed, they didn't, and missed their chance of becoming what eBay did


in this day and age, you snooze you lose

 

[CAZMIESTER]

To all gift card holders HMV are accepting gift cards from tomorrow