And another one bits the dust - many a Saturday I would spend looking for items (and then scanning the barcode so that I could buy cheaper on amazon).
HMV to go into administration
- Thread starter JoeZhang
- Start date
I felt sad when I heard that HMV was brought out buy another company here. I knew there was problems then. Anyways, a sad day.
I used to love going to HMV, but I only shop in there now if I have a gift card. They're just too expensive, and can't compete with the likes of Amazon.
It's a shame for all the staff though.
It's a shame for all the staff though.
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Feel for the staff, I was on the good ship Borders when it sank back in 2009, working in retail during administration is about as worse as it gets. Monumental loss to the industry if it goes under.
Soon Walmart will be the only place to get physical copies of anything. I trired supporting HMV before Xmas and I kind of figured this would happen.
Our grandkids will go to 'store' museums one day. "You could hold something before you bought it? Wow!"
Incredible fact from the article: "Despite its troubled position, the retailer still sells 27% of all DVDs and Blu-Ray discs and 38% of the physical music market."
:confused
Our grandkids will go to 'store' museums one day. "You could hold something before you bought it? Wow!"
Incredible fact from the article: "Despite its troubled position, the retailer still sells 27% of all DVDs and Blu-Ray discs and 38% of the physical music market."
:confused
http://www.bbc.co.uk/news/business-21021073
In this article it says that 73.4% of music and film are downloaded now, I guess only selling 30-40% of the remaining 27% isn't going to keep a business as big as HMV viably profitable.
HMV Canada is unaffected by this, it was split off in 2011.
Very sad as you can see on this graphic it has been coming for a long time: http://www.dailymail.co.uk/money/ma...ruggling-retailer-HMV-set-administrators.html
I have seen our price go, then tower, then virgin who became zavi then went. Hmv who sold waterstones a couple of years back have dropped like a stone. Amazon who are based in Ireland and jersey to keep taxes low mean high street stores cannot compete. Then there was mp3 which iTunes and others cained them on. Electrical goods never paid off for them. Now the banks have pulled the plug they will follow comet, woolworths(uk) Jessops and the others into the history books, only question is is who is next?
I have seen our price go, then tower, then virgin who became zavi then went. Hmv who sold waterstones a couple of years back have dropped like a stone. Amazon who are based in Ireland and jersey to keep taxes low mean high street stores cannot compete. Then there was mp3 which iTunes and others cained them on. Electrical goods never paid off for them. Now the banks have pulled the plug they will follow comet, woolworths(uk) Jessops and the others into the history books, only question is is who is next?
I used to work at WHSmith next door to an HMV, I went in there a few times on my dinner breaks (about 2 years ago now) and even then a lot of the staff told me that they were concerned about their job security, at the time then it wasn't great either and they could have been in this situation then.
As long as there is music and movies etc available to download from the Internet, stores like this will continue to decline and go out of business.
As long as there is music and movies etc available to download from the Internet, stores like this will continue to decline and go out of business.
Indeed, according to their Twitter feed, HMV Canada did decent sales this Xmas season.
Well the Jersey loophole is being closed (maybe too late for HMV) and Play for one are folding up their tents.
Thing is I don't have a lot of sympathy for HMV, I remember back in the day (the day being the mid to late ninties/early noughties) before online shopping became the norm, and HMV was always expensive. I pretty much used to always end up buying at Virgin because most of the time it was cheaper.
I also wonder if they didn't get a bit big for their boots during the good times. It's only a couple of years ago that there were three HMV stores in Nottingham, plus FOPP once they bought its store in Nottingham as well. I thought it was madness at the time. They stripped down to one store and FOPP but too late I think.
It is sad though. will there be much of a Highstreet left soon?
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