HMV closing (again)

Marty McFly

I'm delighted the Liffey Valley one is re opening, have hundreds of DVD's and Blu Rays but haven't bought one since they went bang very few of my dvd purchases are pre planned apart from usually world cinema, can't wait to stroll in take a nose around and walk out with about 6 new films .

Is there any word on when yet? If there taking over there old stores they won't need time to fit them out etc sh one would imagine it wouldn't take to long.

johnny_ultimate

I was in London over the weekend, and after visiting the glories of Fopp (an offshoot of HMV with more of a focus on world cinema among other things) and BFI Bookshop (oh, what a magical place!) I'm happy to hear we're getting HMV back to some degree (although sad to see their main flagship store at Piccadilly Circus gone). Now, while HMV is not as specialist as either of the two stores mentioned above, I was pretty amazed not only at the healthy selection offered by both but also the competitive pricing. I picked up Satyajit Ray's Apu Trilogy for considerably less than 50% of the current Amazon listing in Fopp, which is a ridiculous saving for a set that is hardly the type most high street stores would consider dedicating shelf space to. Bargains like that - and many others I spotted - prove that customers benefit massively from a high street presence.

Both shops also illustrate how HMV could really up their game in terms of variety given the space available to them. The Dublin branches' increasingly limited selection in the last few years meant I bought fewer and fewer releases in there - but if they even had a small amount of the decently priced but diverse offerings of Fopp or BFI, I'd undoubtedly be in there picking stuff up much, much more regularly.

Dublin isn't the same market as London, but they don't need to look far to see how they could up their game (speaking of which, thank **** the games market will stablise again - been a rough few months).

Greenmachine

Great news hope some of the old staff get their jobs back. Wonder will Hilco honour the old gift vouchers.

Hande hoche!

Glad to hear their reopening even if on a more limited basis.

Frank Bullitt

If it were to re-open in Dublin, I could only see it opening on Henry street, the rent for the premisses on Grafton street is astronomical.

Loughc

Gintonious wrote: »

If it were to re-open in Dublin, I could only see it opening on Henry street, the rent for the premisses on Grafton street is astronomical.

They are re-opening in Dublin, Henry street was confirmed. Grafton Street is a possibility somewhere down the line.

johndoe99

Xtra-vision sold to HMV owners Hilco Capital

http://www.rte.ie/news/business/2013/0611/456005-xtravision-sold-hilco/

Might get some good stock into the xtravision stores now.

Bullseye1

That is interesting.

pixelburp

Gintonious wrote: »

If it were to re-open in Dublin, I could only see it opening on Henry street, the rent for the premisses on Grafton street is astronomical.

Well on that point, there was some movement back in March (my post here), where a court ruled that rents should fall to market rates (albeit for Bewleys). I've no idea if this has since started to happen, but perhaps / hopefully Hilco are using this precedent as a bargaining chip to get a good deal on rents. I'd be surprised if they didn't anyway.

I hope the Sligo branch will eventually reopen as it was the ony HMV in the north west of Ireland.

Mizu_Ger

johndoe99 wrote: »

Xtra-vision sold to HMV owners Hilco Capital

http://www.rte.ie/news/business/2013/0611/456005-xtravision-sold-hilco/

Might get some good stock into the xtravision stores now.

I wonder if this means that the xtravision stores will be linked directly to the HMV group? Like mini branches of the main stores.

McLoughlin

Mizu_Ger wrote: »

I wonder if this means that the xtravision stores will be linked directly to the HMV group? Like mini branches of the main stores.

That would be fantastic little mini hmvs all over Ireland

delbertgrady

Ah, like the little Xtra Store that used to be on Grafton Street.

(Ask your parents, kids)

Handsome Bob

Sad Professor wrote: »

The Grafton Street branch is the only one I really care about. Hopefully it is one of 7. But great news in any case. I miss browsing for Blu-rays.

Speak for yourself! Henry Street branch FTW!

Marty McFly

Handsome Bob wrote: »

Speak for yourself! Henry Street branch FTW!

Your both wrong Liffey Valley is were it's at :P.

Togepi

Any word on when the stores are likely to be reopening? (The Limerick one in particular.)

johndoe99

Hilco are starting recruitment for reopening stores in Henry Street, Liffey Valley, Limerick Crescent and Dundrum Shopping Centre.

Handsome Bob

Are they going to sound out ex-staff? I'm sure there's nothing stopping them from applying anyway.

McLoughlin

Handsome Bob wrote: »

Are they going to sound out ex-staff? I'm sure there's nothing stopping them from applying anyway.

Would wage rates be the same though or would they introduce new wage rates as its a new company running the show ?

I know a job is a job but just wondering.

CMpunked

Handsome Bob wrote: »

Are they going to sound out ex-staff? I'm sure there's nothing stopping them from applying anyway.

I'm working with an ex-employee of the grafton store and he said he probably wouldnt be able to get a job above anyone else that is applying new because he accepted redundancy.
That's just what he thinks, he hasnt looked into it because he said he wouldnt go back.

Say Your Number

zorro2566 wrote: »

I hope the Sligo branch will eventually reopen as it was the ony HMV in the north west of Ireland.

I was in Johnstons Court today and saw a big 'New store coming soon' banner outside HMV, which I hope means they are re-opening.

enigmatical

Fysh wrote: »

It's somewhat disappointing not to see the Cork HMV on that list, but I'd expect they're focusing on a small number of stores most likely to be profitable in the short term to see what the business prospects are. I can't imagine that the Kilkenny one will be back any time soon, for example (a great pity for those who frequented it, I'm sure, but from the couple of times I went there I thought it was a way-oversized and over-stocked shop for the likely audience it would attract...).

The main reason is probably that they weren't able to cut a deal on the rent.

From what I've googled : http://www.iput.ie/news/article/news-iput-news-fund-to-get-over-50m-for-retail-and-office-investments/#.UbtGqpUXerc

Chartered surveyors HWBC is guiding €18 million for one of the best located retail stores in Cork, the HMV outlet at 80/82 St Patrick’s Street, which is producing a rent of €580,911 per annum. The next review is in three years but, according to the agent, the current rent would review to €650,000. Based on the guide price, the investment will produce a return of 2.9 per cent and a reversionary yield of 3.24 per cent in 2010.

So it's likely they were paying at least €650,000 / year rent and that wouldn't have included maintenance of the building, shop fitting or anything like that. You basically get the four walls and an address.

I'd rather see them back in there than see one of the most prestigious retail locations in the country sitting empty for months on end. Surely it would be better to offer them a lease and have some money coming in than an empty unit of that scale.

Say Your Number

Say Your Number wrote: »

I was in Johnstons Court today and saw a big 'New store coming soon' banner outside HMV, which I hope means they are re-opening.

Most likely to some sort of clothes store opening?

Gonzo

starting to get impatient waiting for these HMV stores to reopen, their stores are still in place in blanch and grafton street/henry street. you'd think they would have moved back in by now?

McLoughlin

Gonzo wrote: »

starting to get impatient waiting for these HMV stores to reopen, their stores are still in place in blanch and grafton street/henry street. you'd think they would have moved back in by now?

There is a whole heap of legal issues to deal with its not as simple as just opening the doors and going back in this is whole new affair that Hilco are working on not just with HMV but Xtra Vision

johndoe99

Gonzo wrote: »

starting to get impatient waiting for these HMV stores to reopen, their stores are still in place in blanch and grafton street/henry street. you'd think they would have moved back in by now?

It will be around September before they re-open.

Corholio

Golden Discs appear to be moving into the Cork HMV store.

ussjtrunks

Corholio wrote: »

Golden Discs appear to be moving into the Cork HMV store.

I think I heard this somewhere too but how could they possibly afford it?

SpaceTime

Someone's refitting the former HMV store on Patrick's Street in Cork anyway. I'm not sure who as I haven't seen any branding yet, but it does look like a music store layout.

Necronomicon

A HMV-sized Golden Disks? FFS

I was holding out hope that HMV would reopen, following some of the others around the country.