HMV Administration

  Al94 14 Jan 13
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.

  nickf 14 Jan 13

FE , well , as I am an engineer , the glass is twice the size it needs to be ! lol

  SillBill 14 Jan 13

..nd anyway Wikipedia supports MY view!

  spuds 14 Jan 13

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 14 Jan 13

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 14 Jan 13

SillBill

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

  SillBill 14 Jan 13

Well Halfords, at least, is not a HiTec company, or....?

  SillBill 14 Jan 13

Forum Editor

So you can be sarcastic, I think we know that.

  Forum Editor 14 Jan 13

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 15 Jan 13

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 15 Jan 13
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.

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