HMV Finally closing down for good?

Eddie · 15 Jan 2013 at 18:08

Tauren said:
customers have been told, vouchers sold in our local store as late as 5pm LAST NIGHT, aren't valid ....

glad i havent bought anything from there in a long time

It's alright, this is the law, they shouldn't feel peeved about that, it's fair.

King85 · 15 Jan 2013 at 18:14

shoot1st said:
It's alright, this is the law, they shouldn't feel peeved about that, it's fair.

What is the deal with vouchers and them not being accepted? I've always wondered.

Ignore this I just found out on the previous page.

ManInRed · 15 Jan 2013 at 18:16

They are an unsecured debt.

Eddie · 15 Jan 2013 at 18:18

King85 said:
What is the deal with vouchers and them not being accepted? I've always wondered.

Ignore this I just found out on the previous page.

Yeah sorry, my post is missing a :rolleyes:

at the end

SDK^ · 15 Jan 2013 at 18:39

shoot1st said:
It's alright, this is the law, they shouldn't feel peeved about that, it's fair.

Anyone buying vouchers from HMV recently should have known better anyway.

neoglow · 15 Jan 2013 at 19:08

HMV.co.uk not working.

So, is that it for HMV, the final curtain? Or is there a possibility they may still continue if somone/some company takes the weight?

If not then, so long HMV. One of the many on the slippery slope going downhill into oblivion. Who's next I wonder? PC World, Currys, Gamestation...

Defiant306 · 15 Jan 2013 at 19:35

Down for me as well. Strangely when I got into the website they showed my order shipped yesterday at just after 16:30 for my iPod Nano so I might have got use out of that £125 eVoucher.

I would be surprised if the stores survive as they aren't good prospects for the future, I think HMV's survival might only be by a Management buy out after they shed their debts via the deal with the banks.

I did hear that the suppliers pulled their backing.

Westyfield2 · 15 Jan 2013 at 20:34

SB118 said:
Local councils have their part to play in this.
High rates on the buildings increase the bottom line, then they hammer parking charges which put people off from going into town in the first place.
Plymouth city centre is actively anti-car, they pedestrianised most of the town centre about 20 years ago, and recently they've pedestrianised nearly all of what is left (they've left roads for trucks to supply the stores and not much more.)
The highstreet shopping experience is just too expensive.

As for HMV I didn't know plymouth still had one, the last time I was in the town centre it had been turned into a barclays branch.

Interesting point.

I'm extremely lucky in Bath as there's a couple of private car parks I can use, but... during Christmas I went into town to go ice skating. Minimum time the council pay and display car park would do is £5.40 for four hours.
I didn't have £5.40 in coins! Notes/Card/Oyster would have been fine, but not in cash. Plus that was half the cost of what an hour on the ice costs!
(In the end I went skating a couple of times on other days when I could park in the private ones!)

SlyReaper · 15 Jan 2013 at 21:40

I paid a visit to my nearest HMV to see if there were any bargains going, because I'm basically a vulture picking the meat off a rotted carcass. Even with their 25% off everything thing going on, things were absurdly expensive. Come on HMV, this is why you went broke in the first place!

Defiant306 · 15 Jan 2013 at 21:51

I think they are like supermarkets, they put up the prices before these sales and then hide the true cost with the discount there for they aren't losing as much money.

Also I cant see most stocks being sent back to suppliers like Jessops as most of their goods are low cost and high volume unlike Jessops which was the reverse

LiE · 15 Jan 2013 at 22:09

HMV sale never excites me, they always have one on, and still aren't competitive. Maybe they will be bought out and taken in a new direction which sees them selling things competitively.

oldbag · 15 Jan 2013 at 22:18

That's the other thing - for years hmv had sales and the items they had i didn't want. For the items not in the sale that I did want, these were ridiculously expensive.

[TW]Fox · 15 Jan 2013 at 22:19

oldbag said:
That's the other thing - for years hmv had sales and the items they had i didn't want. For the items not in the sale that I did want, these were ridiculously expensive.

It's almost as if retailers have sales to clear out the stock that doesn't sell :eek:

gizmoy2k · 15 Jan 2013 at 22:22

Same with the comet thing really, they missed the boat, adapt or die

When they could get away with it their inflated prices ripped off consumers and then they missed the online boom, be it sales or digital downloads

Then all of a sudden they couldn't drop their prices as the cost of having brick and mortar retail stores and staff soared.

Sucks to be them

oldbag · 15 Jan 2013 at 22:22

[TW]Fox;23566283 said:
It's almost as if retailers have sales to clear out the stock that doesn't sell

Ya, but it always seemed to be the same DVDs/CDs that were on sale and it wasn't like the shelves were empty and people were rushing en mass to buy them.

oldbag · 15 Jan 2013 at 22:25

gizmoy2k said:
Same with the comet thing really, they missed the boat, adapt or die

When they could get away with it their inflated prices ripped off consumers and then they missed the online boom.

Then all of a sudden they couldn't drop their prices as the cost of having brick and mortar retail stores and staff soared.

Sucks to be them

Does the economic climate have something to do with it also? Everyone's being squeezed with other bills and paying off their huge debt that purchasing CDs and DVDs will be a part of.

Defiant306 · 15 Jan 2013 at 22:27

Richard Branson saw this coming and I did think it was a smart move (Virgin sale) at the time. I think that was about the same time Play was hammering them on CD's and DVD's.

I did wonder if Argo's was in danger, at least they have thought again about their business model. I think it might just save them for the future, its good management to accept the situation and adapt even though its a full 360. Shows they can be dynamic and hell you need that in today's business climate.

gizmoy2k · 15 Jan 2013 at 22:35

oldbag said:
Does the economic climate have something to do with it also? Everyone's being squeezed with other bills and paying off their huge debt that purchasing CDs and DVDs will be a part of.

Probably, but for me the main point is no one wants to own cds or dvds anymore, its all about digital content and downloads

Why have a series boxset take up a shelve when it can take up 15GB instead and be available on almost any device.

I dont care that you sell me Transformers with a digital copy, i dont want the disc i just want the film, save yourself the money and dont even bother producing the disc

It always amazes me when you walk into these places, they have all this stock and over the past 5-10 years its apparent that no one is interested buying it at the prices they are offering.....yet they still stack the shelves high!

Good point about virgin above

oldbag · 15 Jan 2013 at 22:36

The online retailers who sell electronics, DVDs, CDs, etc are doing the same to the high street as the big supermarkets did to butchers, grocers, etc.

I can't remember the last time I went proper shopping. I try and do as much as possible online, stuff food shopping on weekends (we get ours online) and all the misery that comes with it - there's more to life!

[TW]Fox · 15 Jan 2013 at 22:39

gizmoy2k said:
Probably, but for me the main point is no one wants to own cds or dvds anymore, its all about digital content and downloads

This isn't true yet. Only 25% of media sales in 2012 were digitial downloads. 75% were physical copies. Movies particularly - most normal people have no idea how to watch a digital format movie on the television in the lounge. They want a blu-ray instead - you just put it in and watch. Infact can you even legally purchase movies in, say, mkv format? I'm not even sure you can.

Don't make the mistake of assuming the market in general thinks the same way as we do on here.