HMV to go into administration

I still think HMV might continue in some form, remember Game also went in Administration last year, and it's still about.

 

Bizarrely, GAME is doing reasonably well right now. So well in fact, they're looking into buying HMV stores. Weird how it all comes around.

 

I suspect GAME is highly leveraged. If interest rates go up, they'd probably be fucked.

 

I think what didn't help Game was owning Gamestation as well, so in some places they would own two or more outlets essentially competing against themselves. When realistically the place could at best support one store.

 

Off the top of my head there's still Zavvi.com, Base.com. DVD.co.uk, Sendit.com, shopto.net, thehut.com.

 

This sums it up, even stuff in their big going-out-of-business-we're-fucked sale, its still cheaper to buy it online.


I was looking round two HMVs this past week in different cities; nothing worth buying. Dark Knight Rises on bluray- £19.99 You could get it for about £13 at some supermarkets and online when it was first released

 

When their sale first started a bargain site on Twitter put out a tweet saying that HMV had a 25% sale going on and I replied "Does that mean I can walk round it without feeling ripped off just being there?" and they said " wouldn't go that far." I think that shows exactly what their reputation was.

But the same can be said for Comet, even their huge going out of business sale there was stuff going cheaper at the Curry's next door. Which shows it's not just about physical shops vs online.

 

I still can't believe the irony that Game are potentially in the market for HMV stores...

 

Well OpCapita bought them and they're always on the look out to asset strip a business they can get their hands on.

 

Base.com and Dvd.co.uk are one and the same.

Prett much everything else, Zavvi, Sendit, TheHut, Asda are all part of the Hut Group.

 

The administrators for HMV have apparently said that they will honour gift certificates and charity payments.

 

Looks like someone has snapped up HMV already!

 

Bah, whatever replaces HMV will just be gone too in a year. Just like how Zavvi replaced Virgin megastores... that lasted

 

HMV has bought HMV. Interesting.

 

I'm not so sure, there definitely seems to be support from the music/film industry to keep something open on the highstreet for CDs/DVD/Blurays.

 

Yep, read they're offering them good terms on credit and extending everything they can to let them get back on their feet. Of course they don't want a near monopoly going to the supermarkets and Amazon.

 

Gee, I wonder if anyone associated with Amazon lobbied for the change in the VAT rules for the Channel Islands.

 

When they changed the rules so that any company who had recently set up in the Channel Islands who were obviously doing it for the VAT exemption Amazon shut their Jersey operation down and partnered with a company that had been established there to provide those services. Have to wonder what'll happen with those partnerships now.

 

Zaavi of course once being on the high street

 

My housemate's branch has let go two its staff. Not sure if that means they're staying open though.