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HMV going into administration

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Comments

  • #662
    efb
    Closed Accounts Posts: 35,514 ✭✭✭✭efb


    Have Many Vouchers?


  • #663
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    seamus wrote: »
    If I thought my business was going under, I'd be doing everything I could to try and save it, including selling as much as I possibly could.

    What would you expect them to do? If they told staff to stop selling vouchers before Xmas, then it would have been game over (no pun intended) and there would have been no chance of saving the business. Chances are the management spent the last month trying to come to an agreement with their creditors. "We've stopping selling stuff" probably wouldn't have been a great bargaining chip with the bank.

    Is it crap for those who bought vouchers? Yep. But just bad timing really. They may have been hoping for strong Xmas sales to get them back on track.

    Well explained.

    Its a right old mess indeed of a bad situation to be in.


  • #664
    Blisterman
    Registered Users, Registered Users 2 Posts: 7,487 ✭✭✭Blisterman


    The fact that they deliberately defrauded their customers in a last gasp effort to squeeze a bit of cash out of them, shows the contempt they really held for the people who shopped there.

    It actually makes me regret ever buying anything from them in the past.


  • #665
    chops018
    Registered Users, Registered Users 2 Posts: 2,458 ✭✭✭chops018


    Biggins wrote: »
    It might be argued that earlier 'consideration' was completed by someone originally (handing over cash) for just the previous purchasing a note of credit.

    The later tried further transfer of 'consideration' for later goods could be seen as a separate entity/business transaction.



    Contract law came up only as part of the act of entering into purchasing a line of credit basically.
    The thread went skewered in this area via some (not their fault) just not too clear in the complicated details of it all.

    True, the thread did get skewed in a lot of legal arguments, I presented the ones I feel are true and might prevail. You have done the same, and it has been good arguing, but at the end of the day we can't be 100% sure, as I said we can only speculate.

    Also, you make another good point, we aren't fully aware of all the details, so some of these arguments could be pointless. But hey that's what were here for :pac:


  • #666
    chops018
    Registered Users, Registered Users 2 Posts: 2,458 ✭✭✭chops018


    seamus wrote: »
    Is it crap for those who bought vouchers? Yep. But just bad timing really. They may have been hoping for strong Xmas sales to get them back on track.

    But you don't realise that people paid money for these vouchers, and so they should be honoured or else they're money given back. You can't expect HMV to just be allowed have all this free money.

    I know it won't be as simple as it sounds, but surely it should. Terrible for the people who got vouchers and it is going to result in this. The irony in people calling the man a thief today when HMV are going to be refusing vouchers that people paid for and they accepted there money.


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  • #667
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    Blisterman wrote: »
    The fact that they deliberately defrauded their customers in a last gasp effort to squeeze a bit of cash out of them, shows the contempt they really held for the people who shopped there.

    It actually makes me regret ever buying anything from them in the past.

    If its any consolation, you by spending money in the place, helped keep fellow Irish people employed for at least a while.
    We all did.


  • #668
    seamus
    Registered Users, Registered Users 2 Posts: 68,190 ✭✭✭✭seamus


    chops018 wrote: »
    But you don't realise that people paid money for these vouchers, and so they should be honoured or else they're money given back. You can't expect HMV to just be allowed have all this free money.
    I think you don't understand what vouchers are. They're promises. Like cheques.
    If the company doesn't have the money to honour the promise, then they don't have it.

    Like I say, you can get yourself put onto the list of creditors, but legally that's all you can do. Nobody can force the receiver to honour the vouchers above any other debts.

    HMV won't walk away with "free money". The tax man and the banks will.


  • #669
    Judgement Day
    Closed Accounts Posts: 13,549 ✭✭✭✭Judgement Day


    knucklehead6 wrote: »
    http://www.rte.ie/news/2013/0116/hmv-vouchers.html

    Recievership

    Stores closed

    People like the thieving granddad have caused this

    I take it you're just having a laugh? The 'thieving' granddad was dead right. What about the 'thieving' company which kept selling vouchers knowing the financial mess they were in? In these situations it's everyone for themselves and I hope a few more showed the same initiative. I had to deal with a similar scenario when the Sunday Tribune went bust -the first time.


  • #670
    drdeadlift
    Closed Accounts Posts: 2,189 ✭✭✭drdeadlift


    melekalikimaka wrote: »
    if the tills broke and the feature was disabled 5 years ago for an afternoon, would it have been ok for the silly old man to just walk out? no, you can dress it up all you want, the old man was trying to make a point, and he did, he's still a thief and i do hope that he gets the full whack of the law, this behavior shouldnt be condoned

    Some times you have to stand up for yourself.Its not like he didnt offer a payment.


  • #671
    chops018
    Registered Users, Registered Users 2 Posts: 2,458 ✭✭✭chops018


    seamus wrote: »
    I think you don't understand what vouchers are. They're promises. Like cheques.
    If the company doesn't have the money to honour the promise, then they don't have it.

    Like I say, you can get yourself put onto the list of creditors, but legally that's all you can do. Nobody can force the receiver to honour the vouchers above any other debts.

    HMV won't walk away with "free money". The tax man and the banks will.

    Bad situation to be in so. For HMV and the people with the vouchers.


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  • #672
    cloud493
    Closed Accounts Posts: 11,835 ✭✭✭✭cloud493


    One on Henry street was closed today. Does anyone know if all irish stores are now closed or just a few?


  • #673
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    cloud493 wrote: »
    One on Henry street was closed today. Does anyone know if all irish stores are now closed or just a few?

    According to the news, closed for the foreseeable future.

    http://www.tv3.ie/article.php?article_id=92940&locID=1.2&pagename=


  • #674
    johndoe99
    Registered Users, Registered Users 2 Posts: 1,890 ✭✭✭johndoe99


    cloud493 wrote: »
    One on Henry street was closed today. Does anyone know if all irish stores are now closed or just a few?

    HMV Kilkenny was closed all day, they had signs up stating they were opening later, but was told by management that would not happen.

    Later RTE said that all Irish Stores were closed, i was told they would be opening tomorrow, but that seems to be bull.


  • #675
    Strawberry Fields
    Closed Accounts Posts: 611 ✭✭✭Strawberry Fields


    no it's in receivership http://www.rte.ie/news/2013/0116/hmv-vouchers.html
    doubt they'll open again. sell of assets.


  • #676
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    MagicSean wrote: »
    District court cases aren't generally reported. But here's one for you

    http://www.irishtimes.com/newspaper/ireland/2012/0712/1224319860909.html

    I get what you're saying, but surely the ownership of the cans in that case was ambiguous. Where as the man we are talking about took stuff from a shop where the goods are blatantly owned by the shop until a contract with a customer is made.


  • #677
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    johndoe99 wrote: »
    ...Later RTE said that all Irish Stores were closed, i was told they would be opening tomorrow, but that seems to be bull.
    Yea, sadly unlikely.
    A friend of the wife had just recently got a job in the Drogheda, Louth, branch.
    What a rollercoaster of emotions all that was working in the stores must be suffering from right now!

    Simply terrible.


  • #678
    My name is URL
    Registered Users, Registered Users 2 Posts: 25,227 ✭✭✭✭My name is URL


    I see Blockbuster has gone into administration too. Are they still connected to Xtra-Vision?


  • #679
    mehfesto
    Closed Accounts Posts: 1,277 ✭✭✭mehfesto


    Officially gone now.

    Staff looking unlikely to be paid for December & January. No redundancy either, obviously. Sit-ins in progress in Blanch, after they heard security came into Swords and changed the locks and put all the valuables together. Dundrum in a similar situation.


  • #680
    P_1
    Registered Users, Registered Users 2 Posts: 14,681 ✭✭✭✭P_1


    If we are to take any lessons from this fiasco, then surely this must mean the deathknell for retailers selling gift vouchers. It's too risky a purchase for consumers the way things are in the retail world.


  • #681
    TwoShedsJackson
    Closed Accounts Posts: 9,438 ✭✭✭TwoShedsJackson


    mehfesto wrote: »
    Officially gone now.

    Staff looking unlikely to be paid for December & January. No redundancy either, obviously. Sit-ins in progress in Blanch, after they heard security came into Swords and changed the locks and put all the valuables together. Dundrum in a similar situation.

    They'll get redundancy, just they'll have to get it from the Government, which will take months.


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  • #682
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    My name is URL wrote: »
    I see Blockbuster has gone into administration too. Are they still connected to Xtra-Vision?

    They were previously run by Blockbuster but I think they are a separate entity now.
    (In August 2009 Blockbuster sold off its Irish operations to Birchhall Investments.)
    Still, their future prospects does not look good it may seem but there might be hope.

    See: http://www.boards.ie/vbulletin/showthread.php?p=72090683


  • #683
    krudler
    Registered Users, Registered Users 2 Posts: 34,788 ✭✭✭✭krudler


    mehfesto wrote: »
    Officially gone now.

    Staff looking unlikely to be paid for December & January. No redundancy either, obviously. Sit-ins in progress in Blanch, after they heard security came into Swords and changed the locks and put all the valuables together. Dundrum in a similar situation.

    Absolutely sucks for the staff, kinda puts not being able to spend vouchers into perspective, retail work before, during and after Christmas is damn hard work, have plenty of them under my belt myself and the thoughts of going through that and not even being paid in the end for it is awful.


  • #684
    johndoe99
    Registered Users, Registered Users 2 Posts: 1,890 ✭✭✭johndoe99


    just noticed the HMV Online is gone too:

    http://hmv.com/hmv/site_down_1a.jpg


  • #685
    efb
    Closed Accounts Posts: 35,514 ✭✭✭✭efb


    And HMV Owe Lily Mae fund money.


  • #686
    Notorioux
    Registered Users, Registered Users 2 Posts: 502 ✭✭✭Notorioux


    This is really sad... :( Another bunch will lose their jobs.


  • #687
    Jimoslimos
    Registered Users, Registered Users 2 Posts: 4,930 ✭✭✭Jimoslimos


    Allyall wrote: »
    But. No. They are the destruction of their own demise. They got the guy blamed for Jessops failing in to fix them, For Gods Sake, makes you wonder could a 12 year old have done better.
    I'm going to speculate that the role of people like that isn't usually to save the business. Generally it is to ring fence as much assets for the shareholders and keep it out of the hands of creditors.

    Usually you can spot a pattern of failed businesses on their cv history. Still employed though :rolleyes:


  • #688
    languagenerd
    Registered Users, Registered Users 2 Posts: 3,201 ✭✭✭languagenerd


    Mr.S wrote: »
    HMV Grafton Street's twitter saying the shop is closed for good :(

    Damn :(


  • #689
    Red Alert
    Hosted Moderators Posts: 7,486 ✭✭✭Red Alert


    No doubt the tin-pot-dictator-store manager types loved enforcing the tatoo and and long hair rules

    http://him.uk.msn.com/grooming/hmv-bans-staff-tattoos-and-long-hair


  • #690
    Hogzy
    Registered Users, Registered Users 2 Posts: 7,544 ✭✭✭Hogzy


    I thought it was examinership they were seeking, not receivership. Thats a shame. VERY small chance they will survive.


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  • #691
    Hungerford
    Registered Users, Registered Users 2 Posts: 912 ✭✭✭Hungerford


    Hogzy wrote: »
    I thought it was examinership they were seeking, not receivership. Thats a shame. VERY small chance they will survive.

    They were but the banks got there first.


This discussion has been closed.
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