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The owner of HMV Canada is reportedly interested in acquiring some of the troubled chain’s UK stores. The Financial Times reports, however, that Hilco has not yet been approached by administrators Deloitte. The paper adds that as well as asking suppliers for a 300m bailout prior to falling into administration, …
Read More »ERA: "This may not be the end of HMV’s story"
Kim Bayley, the director general of the Entertainment Retailers Association, has claimed that HMV is too important for music and video companies to let it disappear. Highlighting that physical sales still account for 75 per cent of those markets, Bayley argues that HMV’s potential loss from the High Street would …
Read More »HMV "intends" to honour pre-orders
Customers who have pre-ordered games or other items with HMV have been told not to worry. HMV’s PR boss Gennaro Castaldo told Eurogamer that the chain would intend to follow through on [pre-orders]”. This, of course, depends on both the business remaining open and suppliers being willing to provide the …
Read More »Gift vouchers and store credit not being accepted at HMV this morning
It was the one question we were asked more than any other last night – will customers be able to spend their gift vouchers and store credit in HMV today? And the answer, sadly, is no. Administrators have confirmed this morning that consumers will not be able to use gift …
Read More »HMV confirms intention to enter administration
Retailer HMV has filed notice to appoint administrators. HMV’s shares have been suspended from trading on the London Stock Exchange with immediate effect. It is understood that administrators Deloitte will keep all stores open while it searches for a potential buyer. Here’s HMV’s full statement: On 13 December 2012, the …
Read More »Suppliers’ refusal to answer HMV’s £300m call for help led to administration – report
Tonight’s anticipated collapse of HMV came about after suppliers ignored the retailer’s latest plea for help. That’s according to The Financial Times, which reports that HMV directors last week asked suppliers for yet another financial lifeline to keep the chain aloft – this time to the tune of 300m. That …
Read More »HMV "to enter administration tomorrow morning"
It looks like the time has come for HMV. Having reported just moments ago that the HMV board are tonight holding discussions about what action to take next, mutiple sources are now claiming that the retailer will enter administration in the morning. The Telegraph reports that HMV going into administration …
Read More »HMV board holds crunch talks as retailer ponders administration
The directors of beleaguered retailer HMV are said to be locked in emergency talks tonight as the retailer considers entering administration. Sky News reports that a number of options are currently being discussed amongst execs, one of which is administration. However, further action from lenders could yet give HMV a …
Read More »UK studio Eurocom closed after 25 years
Eurocom, the British developer behind the latest James Bond game, has gone into administration. The developer, based in Derby, made150 redundancies last monthfollowing a number of cancelled console projects. Its remaining 50 staff were told this morning that they had been laid off. Eurocom issued a statement toEurogamerthis afternoon: Today …
Read More »Deloitte confirms closure of 125 additional Comet stores
Hopes that Comet will emerge from its administration appear to be fading after the biggest store closure plan so far was revealed by Deloitte. Comet is to close an additional 125 stores over the next several weeks”, leaving just 70 stores trading in an effort to sell off remaining stock. …
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