HMV Administration

  Al94 20:36 14 Jan 2013
Locked
Answered

Been predicted for a while but looks likely tomorrow http://www.ft.com/cms/s/0/c4096aee-5e82-11e2-a771-00144feab49a.html#axzz2Hz53czjx More imminent store closures and job losses.

  Quickbeam 21:04 14 Jan 2013

Your link requires registration.

  Forum Editor 23:10 14 Jan 2013

nickf

That glass of yours is certainly half full, isn't it?

  Forum Editor 23:13 14 Jan 2013

SillBill

Errrmm...

I suggest you Google the definition of sarcasm.

  spuds 23:25 14 Jan 2013

I gave reference to David Adams in the Jessops post, that's being aired in Speakers Corner at present. He was the former executive chairman of Jessops who about six months ago made an offer to HSBC, because he wanted to take over Jessops again.

David Adams is a non-executive director of both Halfords and HMV.

  Forum Editor 23:28 14 Jan 2013

Being serious for a moment....

The HMV story is one that has become increasingly familiar of late. The company is wallowing in debt, and in December was unable to honour an agreement that it had made with its bankers.

Appeals to suppliers - notably music and film companies - refused to continue to support the business so it could continue to trade. There was no other option but to suspend share trading, and call in an administrator.

As a market analyst said "In the digital era, where 73.4% of music and film are downloaded, HMV's business model has simply become increasingly irrelevant and unsustainable."

There will certainly be other casualties as companies struggle to come to terms with changes in the way people are spending (or not spending) their disposable income.

  Forum Editor 23:30 14 Jan 2013

SillBill

Stop grasping at straws,you're making it worse.

  Forum Editor 23:41 14 Jan 2013

I'm sure that someone will pick up the HMV brand, but it will not be used on retail stores that sell CDs and DVDs - there's no longer any mileage in that business model.

Perhaps a new online business will rise from the ashes - time will tell.

  kad60 00:15 15 Jan 2013

So,basically,the internet rules.!! We are all complicit in the demise of the 'high street' or shopping in the 'tradionalist' sense,people will still engage in the pastime but actual sales may deminash whilst 'online' sales will increase.

  Forum Editor 00:31 15 Jan 2013
Answer

kad60

"We are all complicit in the demise of the 'high street' or shopping in the 'tradionalist' sense"

That's about it in a nutshell.

  Quickbeam 00:50 15 Jan 2013

It's only a matter of time now until one of the major book sellers folds. Most forum members are now downloading their books.

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