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HMV going into administration

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Comments

  • #962
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,685 Mod ✭✭✭✭Stheno


    Shame for all the staff who've now lost their jobs permanently :(


  • #963
    [Deleted User]
    Posts: 15,814 ✭✭✭✭ [Deleted User]


    Teamshadowclan wrote: »
    So will they sell off the stock in the shops now?

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

    No they won't as most of the stock will go back to the distributors and the rest will be modt likely divided amongst the UK stores.


  • #964
    seamus
    Registered Users, Registered Users 2 Posts: 68,173 ✭✭✭✭seamus


    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?
    Afaik, they don't require any valid legal reason to refuse to honour the vouchers, even if they're not in trouble.

    A voucher is effectively a debt owed by the retailer to the person holding the voucher, but the retailer is not legally obliged to hand over stock in order to honour that debt, they just choose to.


  • #965
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,384 CMod ✭✭✭✭Dravokivich


    Teamshadowclan wrote: »
    So will they sell off the stock in the shops now?

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

    Well... they'd need to hire staff in order to do that... ;)

    It's likely that they'd be getting involved with the suppliers. If it's similar to how Zavvi were set up, the stock is just held by HMV until it's sold to the customer.


  • #966
    Raphael
    Closed Accounts Posts: 8,880 ✭✭✭Raphael


    Dravokivich wrote: »
    Well... they'd need to hire staff in order to do that... ;)

    It's likely that they'd be getting involved with the suppliers. If it's similar to how Zavvi were set up, the stock is just held by HMV until it's sold to the customer.
    Not all stock - if nothing else, they owned trade-ins, but in general those kind of arrangements only happen for newer content, by my understanding.

    But as said above, they'll probably "sell" all their stock left over after things are returned to HMV UK to help pay off their debts and help the parent company keep afloat. Will net them more cash than a fire sale, since they can make everyone redundant now.


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  • #967
    Mr Cumulonimbus
    Closed Accounts Posts: 1,463 ✭✭✭Mr Cumulonimbus


    This means now the only HMV store left on the island of Ireland is the one at Donegall Arcade, Castle Place in Belfast.


  • #968
    Skid X
    Registered Users, Registered Users 2 Posts: 21,444 ✭✭✭✭Skid X


    A Glimmer of hope that the HMV Store in Dublin might re-open ...

    Mark Kleinman ‏@MarkKleinmanSky 1h
    #HMV deal as good an outcome as could have been expected. Rescue will preserve Fopp chain and see renewed presence in Dublin, I'm told.

    https://twitter.com/MarkKleinmanSky

    http://news.sky.com/story/1074101/hmv-rescue-hilco-deal-to-save-jobs-and-shops

    Hope so. It makes me sad everytime I walk past the old Grafton Street store, it would be great to see it rise again (any of the old stores.)


  • #969
    Witchie
    Registered Users, Registered Users 2 Posts: 5,597 ✭✭✭Witchie


    Agggghhhh threw the vouchers on the fire the other day!


  • #970
    Basq
    Registered Users, Registered Users 2 Posts: 45,041 ✭✭✭✭Basq


    Witchie wrote: »
    Agggghhhh threw the vouchers on the fire the other day!
    I kept mine on the off-chance but knowing HMV, they'll be some excuse not to honour them.

    Good news to see them back regardless!


  • #971
    jasonbourne.cs
    Registered Users, Registered Users 2 Posts: 114 ✭✭jasonbourne.cs


    still have €90 worth of vouchers .... the waiting game continues ....


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  • #972
    seamus
    Registered Users, Registered Users 2 Posts: 68,173 ✭✭✭✭seamus


    Their name is mud in Ireland.

    If they do reopen, they'll see a rush of people in the doors to cash in their vouchers, then people will stay away.


  • #973
    sham69
    Registered Users, Registered Users 2 Posts: 2,322 ✭✭✭sham69


    It mentions the Henry Street store as the one possibly reopening on Breaking News.
    Would be great to see them back , even 1 store.


  • #974
    jasonbourne.cs
    Registered Users, Registered Users 2 Posts: 114 ✭✭jasonbourne.cs


    seamus wrote: »
    Their name is mud in Ireland.

    If they do reopen, they'll see a rush of people in the doors to cash in their vouchers, then people will stay away.


    thats my plan anyway ! :D


  • #975
    I Heart Internet
    Closed Accounts Posts: 4,678 ✭✭✭I Heart Internet


    Makes sense to only open the real flagship stores and not try to revive the smaller, marginal ones.

    High street music retailing is a dying industry - only room for a very few shops that are almost attractions in themselves i.e. lets go to HMV Grafton Street where you can actually touch real music....add snack-bars, t-shirts, bookstore, etc, etc. Only way to make it work i guess.


  • #976
    Gummy Panda
    Closed Accounts Posts: 20,919 ✭✭✭✭Gummy Panda


    Well it was in the newspaper that a fashion chain took over the Grafton street store. I wonder who could fill that thing up


  • #977
    readyletsgo
    Registered Users, Registered Users 2 Posts: 3,276 ✭✭✭readyletsgo


    seamus wrote: »
    Their name is mud in Ireland.

    If they do reopen, they'll see a rush of people in the doors to cash in their vouchers, then people will stay away.

    Just because some people got stung with vouchers in Ireland doesn't mean their name is now mud.
    I got a voucher from HMV the DAY before they shut down, but I got my money back via credit card company, I know it wasnt a option for some people but there was ways to get your money back.


    The main reason I used HMV was for new and used games, not music in years, I get all my music on Amazon(vinly/CD), Labels websites or megaboon(flac).

    Me and my mate on a Saturday afternoon, used to do coffees and walk around game shops in Dublin, HMV was ALWAYS the best for prices and offers.
    Since they closed, we have Gamestop :mad:, CEX:), Da RAGE and 3DGAMES and one or two others that I wouldnt step into (Smyths).
    By far HMV were the best (games/music/tech) and I hope to god they reopen and bring back competition for the games industrie here, cause ever since GAME closed last year, Gamestop became worse and worse with there totally ridiculous prices on games, ugh, I cant be the only person who thinks HMV were a god send when they went into games etc.

    /rant.


    Anyway, hopefully they reopen the Henry st shop, thats the store they are looking to reopen.


  • #978
    krudler
    Registered Users, Registered Users 2 Posts: 34,788 ✭✭✭✭krudler


    Sweet, if they do re-open and are taking vouchers will be taking a trip up


  • #979
    readyletsgo
    Registered Users, Registered Users 2 Posts: 3,276 ✭✭✭readyletsgo


    I really wouldn't count on those vouchers anymore, chance your arm yeah, but most likely they will not be excepting them IF they reopen, it wont be the staffs fault either so people shouldnt freak out over it, ****y but sure, there ya go.


  • #980
    jasonbourne.cs
    Registered Users, Registered Users 2 Posts: 114 ✭✭jasonbourne.cs


    agree with you on the HMV being great for games tho !

    usually release day game prices were about 10 quid less than everywhere else , only bettered once in a while by Tesco


  • #981
    Skid X
    Registered Users, Registered Users 2 Posts: 21,444 ✭✭✭✭Skid X


    RTÉ Business ‏@RTEbusiness 4m
    Restructuring firm Hilco has said it is in negotiations with a number of landlords with a view to re-establishing an HMV business in Ireland

    Fingers crossed.


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  • #982
    VinLieger
    Registered Users, Registered Users 2 Posts: 19,170 ✭✭✭✭VinLieger


    Great news Gamestop need some competition although i doubt they will ever stop being fuckwits and ripping people off


  • #983
    Solair
    Closed Accounts Posts: 7,227 ✭✭✭Solair


    They *might* reopen stores in flagship-ish locations here if they can get the right deal on rents.

    The rents were totally out of whack with the footfall in 2012/13.

    They'll need to radically change their business model though or they will just go bang again. The demand for CDs and DVDs will just continue to go down that's inevitable due to changing technology.


  • #984
    VinLieger
    Registered Users, Registered Users 2 Posts: 19,170 ✭✭✭✭VinLieger


    Solair wrote: »
    They *might* reopen stores in flagship-ish locations here if they can get the right deal on rents.

    The rents were totally out of whack with the footfall in 2012/13.

    True, im guessing the bewleys verdict last week has a part to play in this as well


  • #985
    Solair
    Closed Accounts Posts: 7,227 ✭✭✭Solair


    VinLieger wrote: »
    True, im guessing the bewleys verdict last week has a part to play in this as well

    Possibly, but I think if they come into the market here again it will be as an entirely new entity with new leases.

    The only thing in common with the old HMV Ireland organisation would be a similar logo.


  • #986
    Corholio
    Registered Users, Registered Users 2 Posts: 14,014 ✭✭✭✭Corholio


    Hope the one in Cork reopens. Main street looks horribly dead with that huge building closed.


  • #987
    VinLieger
    Registered Users, Registered Users 2 Posts: 19,170 ✭✭✭✭VinLieger


    Solair wrote: »
    Possibly, but I think if they come into the market here again it will be as an entirely new entity with new leases.

    The only thing in common with the old HMV Ireland organisation would be a similar logo.

    Yeah im sure it will be new leases etc, im more thinking of business in that 2 weeks ago Grafton street was looking like it would be derelict in a years time or full of phone stores, now with the bewleys verdict all the current stores futures look alot more positive. This means its a slightly more viable business prospect as a store location.


  • #988
    Solair
    Closed Accounts Posts: 7,227 ✭✭✭Solair


    Corholio wrote: »
    Hope the one in Cork reopens. Main street looks horribly dead with that huge building closed.

    Patrick's St is still in the top 3 locations in Ireland in terms of footfall.
    The rent on that unit was extremely high. Spotted it advertised (with sitting tenant) a while before the HMV closure.

    At the right price (key) its a very attractive location for a lot of major retailers.


  • #989
    Dublinfan
    Registered Users, Registered Users 2 Posts: 233 ✭✭Dublinfan


    im calling it that if it reopens henry or grafton street will reopen possibly both hoping for henry street much prefer the layout


This discussion has been closed.
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