HMV to go into Administration tomorrow morning

[transient]

Another high st company bites the dust

[Sidewinder]

To add:-

 

http://www.itv.com/news/story/2013-01-14/hmv-administration

[ajax95]

Popped into HMV earlier today. Even with a Blue Cross on all their regular stock a lot of stuff still cost a fortune. Which is probably one of the big reasons they're in so much trouble now.

 

I feel sorry for the people in the stores who'll be losing their jobs (even though a lot of them in my recent experience are pretty clueless about the stuff they were selling), but not for the management that got HMV into this mess (It's not a clever idea to spend millions buying Waterstones when you're losing money on your core business)

Edited January 16, 2013 by ajax95

[shuggler]

What really makes me angry is the casual way they just say that people with gift cards and vouchers are now useless?? But thanks for your money now "F" off, there should be some sort of law brought in where there should be a cut off point that they must tell the public that any gift cards or vouchers will now not be sold and you have to use the ones you have before a certain date. I have now lost £50 in gift cards i recieved at christmas, and I'am sure I wont be alone. I feel like just going into their shop, lifting goods to the value of the cards and give them the useless cards back and say take it out of that.

[MaxxPower]

A slight silver lining is that if Gift Cards were purchased with Debit/Credit cards you can still do a chargeback to reclaim the money even though the company is in administration.

 

I agree that it's wrong for gift cards not to be honoured, and I don't really buy the "They're no different from other creditors" excuse. Big creditors, like suppliers, have insurance policies that will pay out should they not get their money back. Gift card holders don't.

[shuggler]

Yeah thats ok if Gift cards were bought by yourself and you paid by Debit/credit cards, but if someone bought it for you as a christmas gift you cant very well go and ask them how they paid for it. They could have announced that they were going into liquidation and that they would accept vouchers/gift cards untill the end of January then they would be no longer valid, even the banks give you warning about old banknotes going out of circulation.

 

People would have got the cards/vouchers for christmas,and only half way through January they cant spend them, I think the companies know this and just use the cash to pay off some of their debts, its just one big RIP OFF

[assisted blonde]

And Blockbusters today called in the Administrators

[standingonthesidelines]

It's almost like we are going to live in a world with no highstreet stores, to retail parks and online...they just can't compete on the price much nowadays, with the overheads etc...I'll really miss blockbusters though, they were great for late night shops.