MCV/DEVELOP News, events, research and jobs from the games industry
Independent financial adviser John Bloomfield is calling on the Government to take action on store gift cards. The move comes after HMV administrators Deloitte initially announced that it would not allow customers to use gift cards at the troubled chain. However, pressure from government and publicity for a man who …
Read More »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 …
Read More »Video games escape UK’s latest retail crisis
The collapse of HMV and Blockbuster is unlikely to have a massive impact upon the video games market. The two entertainment giants fell into administration over the last two weeks, following news that Play.com is ending its own direct-to-retail business. All three retailers are big supporters of the games industry, …
Read More »HMV footfall spikes in wake of administration
HMV has seen its footfall reach ‘near Christmas levels’ in recent weeks, following news of the retailer’s administration. The increased publicity – plus the company’s Blue Cross Sale – has resulted in a surge of nostalgia, which has seen consumers return to HMV stores. Meanwhile, Retail-Week is reporting that Hilco …
Read More »Hilco acquires HMV debt
The future of HMV on the UK High Street appears to have been saved. HMV Canada owner Hilco has acquired the chain’s debts, giving it control of the company. The Financial Times reports that the move to take control of the money owed to Lloyds and Royal Bank of Scotland …
Read More »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 …
Read More »Suppliers ready to make HMV U-turn and back new-look chain
Having turned their back on HMV in the week leading up to its administration, suppliers have reportedly had a change of heart. MSN reports that companies including Sony, Universal Music and Warner Music are planning to offer HMV suitors generous credit terms and cut the price of CDs and DVDs …
Read More »TIMELINE: HMV’s battle for survival
HMV’s protracted battle for survival ended in failure this week as the chain entered administration. The music, video and games specialist is now continuing to trade as administrators Deloitte seeks a buyer. It follows two years of turmoil for the entertainment giant, which has suffered in the wake of collapsing …
Read More »GAME looking to acquire HMV stores after stronger than expected Xmas
OpCapita owned retailer GAME has approached administrators Deloitte about the possible acquisition of some HMV stores. Game Retail chief executive Martyn Gibbs confirmed the move, though refused to give any numbers. It seems, however, that between 40-45 locations are being targeted in towns where GAME does not currently have a …
Read More »MP accuses HMV of theft over gift card scandal
The Conservative MP for North Oxfordshire Tony Baldry has accused troubled retail HMV of theft. The charges relate to the retailer’s continued sale of gift vouchers until the day it went into administration and then the subsequent decision by administrators Deloitte to block their use in store. I suspect, like …
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