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Tag Archives: deloitte

Tribunal rules against Deloitte, awards multi-million payout to former Comet workers

Thousands of former employees at collapsed retailer have been awarded damages by an employment tribunal. Over 2,000 ex-Comet staff filed a suit against Comet and administrators Deloitte alleging that they were not properly consulted prior to its closure in 2012. In total it was ruled that 6,889 workers were mistreated, …

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More store closures expected at Blockbuster

Administrator Deloitte has confirmed to MCV that there will be further closures at Blockbuser stores UK. MCV contacted the firm after rumours suggested that all of the rental chain’s outlets would be closed by the end of March, but Deloitte stated that this was not the case. Instead, planned stores …

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164 more Blockbuster stores to close

Administrators Deloitte has announced it will close a further 164 Blockbuster stores. The stores are part of a phased closure and closing down promotions will be run across the shops. 324 Blockbusters stores are now up for closure, leaving around 200 outlets. The remaining stores will remain open while administrators …

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HMV CEO Trevor Moore out as 60 more are made redundant

HMV has made a further 60 members of its HQ redundant, including the firm’s CEO Trevor Moore. It follows yesterday’s news that 66 stores are being closed, impacting 930 employees. Mark Hodgkinson, the firm’s new marketing director, is also part of the redundancies. 45 of the staff are from the …

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66 HMV stores to close

HMV will close 66 stores over the next six weeks as part of its administration. MCV understands an announcement will be made later today on which stores will be closed, and that staff had been informed this morning. It was widely expected that administrators Deloitte would cut HMV’s store base …

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Supermarkets to swoop for HMV stores?

Morrisons, Tesco and Sainsbury’s are reportedly eyeing HMV outlets as a potential way to expand their own store counts. Earlier this week, restructuring firm Hilco acquired 120m of HMV’s debt, giving it control of the company. However, reports suggest Hilco only wants half of HMV’s 230 stores, meaning up to …

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Big firms eye Blockbuster UK stores

Two firms are reported to be in discussions to rescue bankrupt rental firm Blockbuster UK. The prime candidate is reportedly GA Europe, the restructuring firm that administrators PwC brought in to handle the recent closure of Jessops. "GA bosses are understood to believe they can successfully run a rump Blockbuster …

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UPDATE: Deloitte backtracks on HMV gift card block

Retailer HMV will once again begin honouring gift cards as of tomorrow (January 22nd). The move is a victory for consumer rights and public opinion. The decision to block gift cards and stop honouring store credit was confirmed the morning after the chain’s collapse into administration. However, high-profile cases such …

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Deloitte focused on "generating as much value as possible" for Blockbuster creditors

In the same week as the UK High Street saw HMV slip into administration, fellow long-term chain Blockbuster has now followed its lead. But whereas HMV bosses remain convinced that they can turn the situation around and save the brand, Blockbuster’s days already seem numbered. In recent years Blockbuster has …

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Deloitte warns of tough market as it is officially appointed HMV administrator

HMV boss Trevor Moore may have delivered an upbeat message to journalists yesterday, but administrator Deloitte has warned that it’s a tough market for entertainment retailers at the moment. The retailer is burdened by around 200m of debt and still seems to be appealing to the goodwill of suppliers in …

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