HMV going into administration

Toby Take a Bow

mfitzy wrote: »

So are HMV in Ireland fecked now? Anybody likely to take the HMV/shops over and re-start again?

Who would take over a company selling music though? Even if they've been trying to diversify recently.

Reamer Fanny

mfitzy wrote: »

So are HMV in Ireland fecked now? Anybody likely to take the HMV/shops over and re-start again?

Unlikely it's a good brand but if someone bought it they would be taking on all their debts - the business model just doesn't work anymore

COYVB

shed head wrote: »

i said improve it, obviously its not possible to convert it back! and trust me, you can improve it dramatically especially if you have access to one of these http://www.solid-state-logic.com/music/matrix/ which i have in my own small home studio, i also would have access to a top of the range desk when the studio is free which is quite rare thankfully! Aren't i great:p


Watch the video and start saving for a small home setup trust me, your life will change for the better

http://www.youtube.com/watch?v=tIxOooh_034

Anyway, i'm out of this, peace & love to you!

Wow. You genuinely don't have a clue what you're talking about do you?

Solair

Toby Take a Bow wrote: »

Who would take over a company selling music though? Even if they've been trying to diversify recently.

Seems highly unlikely, unless the stores are profitable.

I'd say the best hope would be a totally different retailer doing something else entirely to move into the stores. There's not likely to be very many interested in actually taking over a music store though as a going concern.

They may not even keep flagship London stores open.

mathie

http://www.bbc.co.uk/news/business-21118711

The administrators of HMV have said that the music and DVD retailer will start accepting gift vouchers in stores from Tuesday.

UK only I suppose as HMV Ireland stores are shut.

Toby Take a Bow

mathie wrote: »

http://www.bbc.co.uk/news/business-21118711

The administrators of HMV have said that the music and DVD retailer will start accepting gift vouchers in stores from Tuesday.

UK only I suppose as HMV Ireland stores are shut.

Are the vouchers electronic cards? Could people buy online from the UK store maybe?

phasers

hmm, I wonder what will take over the huge spaces HMV are leaving empty all over the country. a lot of them are so big that many stores would be put off renting the space...

Fox_In_Socks

phasers wrote: »

hmm, I wonder what will take over the huge spaces HMV are leaving empty all over the country. a lot of them are so big that many stores would be put off renting the space...

Abortion clinics.




Oh no, I didn't!:pac:

delta36

I've read in some news reports (too lazy to link), that Game are looking at some of the HMV stores to purchase. Did Game not almost go extinct a while ago? Why would they do this?

shruikan2553

I heard this too, suppose its a chance for them to expand if they have picked up a bit, maybe they'll expand into the dvd market.

http://www.bbc.co.uk/news/business-21141209

Restructuring specialist Hilco has taken effective control of music and DVD retailer HMV.

Hilco, which already owns HMV Canada, has bought the debt of HMV from the group's lenders, Lloyds and Royal Bank of Scotland.

The debt deal gives Hilco effective control of HMV

It remains to be seen what this means for Ireland.

For the UK it seems it will be business as usual - Hilco will make their own decisions about what stores to keep in their own time.

Corruptedmorals

Toby Take a Bow wrote: »

Are the vouchers electronic cards? Could people buy online from the UK store maybe?

Doubtful, gift cards will generally only work in euro, and will say on them they can't be used in other countries. They may be able to change that on the website so that they are accepted, but I don't see them doing that really.

More bad news in that it's possible HMV Ireland who were used as guarantors for group-wide loans, will be liable for UK bank debt, which comes before staff etc. here get paid.

Ryan.D.Badass

Would hate to have a voucher at the moment.
I understand the theft though, considering no one has stated that they may be redeemable in the future?

Eathrin

Ryan.D.Badass wrote: »

Would hate to have a voucher at the moment.
I understand the theft though, considering no one has stated that they may be redeemable in the future?

It's been stated by Deloitte that they may be reusable if a buyer comes in.

Custardpi

shruikan2553 wrote: »

I heard this too, suppose its a chance for them to expand if they have picked up a bit, maybe they'll expand into the dvd market.

They might as well expand into the wax cylinder market. Give it another few years (infrastructural funds permitting) & we'll all be streaming/downloading 1080p. There'll probably be a continuing demand for a physical product, just as there will be with music, but nowhere near enough to sustain a chain the size of HMV/Game with stores in expensive High St locations.

Downlinz

delta36 wrote: »

I've read in some news reports (too lazy to link), that Game are looking at some of the HMV stores to purchase. Did Game not almost go extinct a while ago? Why would they do this?

Not applicable to Ireland, the story is probably about the UK where GAME still operates.

Dublinfan

so what happens to the irish stores? with hilco set to close half the uk stores to try save the buisness will they be interested in the irish stores, if so i can image many will be shut down with only the big ones remaining possibly grafton or henry street closing and just being one big store

jjbrien

i doubt they will reopen here look at virgin megastores they became zavy and then all the uk and ireland stores closed up. Im sure the rents on most of the properties here were rents from the celtic tiger era with upward only rent reviews very hard for a business to survive with a situation like that

road_high

Any update on the Irish stores? Have to say I am really going to miss them in Kilkenny. Even when ya go to Dublin now there's feck all decent music store left. Tower Records is way overpriced.
They used have lots of DVDs for €3.99 etc which to be fair was not expensive.

Cantona's Collars

Announced this morning that 66 stores are to close with the loss of 930 jobs.

magnumbud

zerks wrote: »

Announced this morning that 66 stores are to close with the loss of 930 jobs.

likely that is only the uk stores. i would imagine it will be like game and the stores in ireland will stay closed. shame cause the high street shops to buy games,music and dvds is becoming less and less and the ones that are left have no competition so can charge what they want.

Cantona's Collars

magnumbud wrote: »

likely that is only the uk stores. i would imagine it will be like game and the stores in ireland will stay closed. shame cause the high street shops to buy games,music and dvds is becoming less and less and the ones that are left have no competition so can charge what they want.

Some stores up North to go but the ones down here have escaped for now.



The 66 stores identified for closure by HMV's administrators are:


Ashton-under-Lyne, Ballymena, Barnsley, Bayswater, Belfast Boucher Road, Belfast Forestside, Bexleyheath, Birkenhead, Birmingham Fort, Blackburn, Boston, Bournemouth Castlepoint, Bracknell, Burton-upon-Trent, Camberley, Chesterfield, Coleraine, Craigavon, Croydon Centrale, Derry, Dumfries, Durham, Edinburgh Fort, Edinburgh Gyle Centre, Edinburgh Ocean, Edinburgh Princes Street, Edinburgh St James, Falkirk, Fulham, Glasgow – Fort, Glasgow – Silverburn, Glasgow Braehead, Huddersfield, Kirkcaldy, Leamington Spa, Leeds White Rose, Lisburn, Loughborough, Luton, Manchester 90, Moorgate, Newry, Newtonabbey, Orpington, Rochdale, Scunthorpe, South Shields, Speke Park, St Albans, St Helens, Stockton-on-Tees, Tamworth, Teesside, Telford, Trocadero, Wakefield, Walsall, Walton-on-Thames, Wandsworth, Warrington, Watford, Wellingborough, Wigan, Wood Green, Workington, Wrexham

magnumbud

zerks wrote: »

Some stores up North to go but the ones down here have escaped for now.



The 66 stores identified for closure by HMV's administrators are:


Ashton-under-Lyne, Ballymena, Barnsley, Bayswater, Belfast Boucher Road, Belfast Forestside, Bexleyheath, Birkenhead, Birmingham Fort, Blackburn, Boston, Bournemouth Castlepoint, Bracknell, Burton-upon-Trent, Camberley, Chesterfield, Coleraine, Craigavon, Croydon Centrale, Derry, Dumfries, Durham, Edinburgh Fort, Edinburgh Gyle Centre, Edinburgh Ocean, Edinburgh Princes Street, Edinburgh St James, Falkirk, Fulham, Glasgow – Fort, Glasgow – Silverburn, Glasgow Braehead, Huddersfield, Kirkcaldy, Leamington Spa, Leeds White Rose, Lisburn, Loughborough, Luton, Manchester 90, Moorgate, Newry, Newtonabbey, Orpington, Rochdale, Scunthorpe, South Shields, Speke Park, St Albans, St Helens, Stockton-on-Tees, Tamworth, Teesside, Telford, Trocadero, Wakefield, Walsall, Walton-on-Thames, Wandsworth, Warrington, Watford, Wellingborough, Wigan, Wood Green, Workington, Wrexham

but are the ones down here not actually considered closed already?

Cantona's Collars

magnumbud wrote: »

but are the ones down here not actually considered closed already?

Don't know,none down my way anyhow.Have to make do with Xtravision or a local store that's overpriced & has feck all in it,needless to say I source my stuff online.

http://www.rte.ie/news/2013/0212/367382-hmv-ireland-jobs/
300 staff at HMV Ireland to lose jobs

The receiver to HMV Ireland has confirmed that 300 staff will be made redundant and 16 stores will remain closed.
David Carson of Deloitte said all stores were loss making and it was not possible to attract a buyer.

seamus

HMV Ireland was considered a legally separate entity and this is why they remained closed while the UK stores stayed open.

ilovesleep

Only a few weeks closed and gone and I miss HMV so very much. It's a huge loss.

ixoy

seamus wrote: »

HMV Ireland was considered a legally separate entity and this is why they remained closed while the UK stores stayed open.

Did we ever then get a valid legal reason for them not accepting vouchers on the Tuesday when HMV Ireland had made no formal declarations?

jasonbourne.cs

ixoy wrote: »

Did we ever then get a valid legal reason for them not accepting vouchers on the Tuesday when HMV Ireland had made no formal declarations?

I can't imagine we'll get one now ... :mad:

Lord TSC

So will they sell off the stock in the shops now?

*Yes, I'm a vulture wanting cheap stuff* :P