HMV Finally closing down for good?

I also cannot believe GAME are looking to purchase up to 50 stores.

They were on the brink of collapse like 3 months ago, how have they possibly got any money left.

It just sounds like a ridiculous idea. At a time when stats show people are spending more online....

Perhaps they know something I don't.. meh
 
And you just know the top bosses will walk straight into another 6 figure salary job whilst the employees who now find themselves out of work will be struggling to find work.

Just another example that shows the 'top jobs' don't always deserve the ridiculous levels of pay they attract.

Yes because the 'top bosses' haven't worked for years to get where they are? You don't just walk into a director or operational manager role. It takes years of hard graft to work your way up.
 
So I've just read that GAME may decide to purchase some of the HMV stores. Can someone please tell me how this makes sense?

GAME almost went belly up because they had too many stores.

By the way.... I dislike these new avatars.

Some irony, our Croydon HMV took the space over from Zavvi/Virgin Megastore after they went belly up.
 
Those people occupying HMV seem rather desperate, fair play to them if they are owed a months wage.

But you can see they are clinging on for dear life as looking at the state of them, the woman in particular (weird makeup, sluuuuured speech etc, been stacking DVD's for 15 years) will find it hard to find future employment.

Actually scrap that, we'll all find it hard to find employment :D
 
heard that last night on the news and they claim to get retail space where they dont currently have any.

but to me it just sounds like the same idiotic expansion plans that they had before of opening more sq footage than anyone else and expecting to make more profit because of it.

It's actually slightly different - GAME's previous excessive store portfolio was mostly as a result of several aquisitions which didn't result in closing the newly aquired, duplicated stores. So they ended up with a huge amount of stores many of which existed not because they were a particularly good location, or in a location any better than a nearby branch, but because they inherited them and simply didn't close them.

So, if there is an opportunity to purchase favourable leases in decent locations as a result of HMV's issues, it would seem sensible to explore this as an option. Especially as I'd imagine it will end up in subsequent closures of stores in less desireable locations.

The only slightly confusing thing is that traditionally GAME branches are not particularly large units whereas HMV often occupied units of much more significant size. You don't need THAT much space to retail purely games products. The range isn't large enough.
 
Game took over Electronics Boutique ages ago and inherited a lot of stores, more local shopping centre had 3 Game stores at one point...
 
[TW]Fox;23582949 said:
It's actually slightly different - GAME's previous excessive store portfolio was mostly as a result of several aquisitions which didn't result in closing the newly aquired, duplicated stores. So they ended up with a huge amount of stores many of which existed not because they were a particularly good location, or in a location any better than a nearby branch, but because they inherited them and simply didn't close them.

So, if there is an opportunity to purchase favourable leases in decent locations as a result of HMV's issues, it would seem sensible to explore this as an option. Especially as I'd imagine it will end up in subsequent closures of stores in less desireable locations.

The only slightly confusing thing is that traditionally GAME branches are not particularly large units whereas HMV often occupied units of much more significant size. You don't need THAT much space to retail purely games products. The range isn't large enough.

true enough about moving in to new area's but you'd think they would hold off untill at least april to see how they are doing outside of the christmas rush.

on the size of the unit's out local game is about a quater the size of our hmv and our hmv is the smallest one iv ever seen. unless they have some idea of having more stock on show or using regional flagship style stores as hubs for shipping products which could be something in the works for many companys.
 
true enough about moving in to new area's but you'd think they would hold off untill at least april to see how they are doing outside of the christmas rush.

But potentially this lets them get in on decent locations with a much shorter lease as they can buy the lease from HMV? IF they were looking seperately later on for fresh leases it might be a lot less flexible.
 
Trevor Moore, ex-Chief of Jessops and now current head of HMV is clearly on his way to becoming a top UK Govt. Adviser.
 
And you just know the top bosses will walk straight into another 6 figure salary job whilst the employees who now find themselves out of work will be struggling to find work.

Absolutely, and rightly so.

The top bosses have worked there assess off to get to where they are.
 
[TW]Fox;23582949 said:
The only slightly confusing thing is that traditionally GAME branches are not particularly large units whereas HMV often occupied units of much more significant size. You don't need THAT much space to retail purely games products. The range isn't large enough.

Only thing I can think of is they have a plan to possibly expand their business model to something more like HMV actually had but without the music?

As you are completely right all the HMV stores up here are pretty massive when compared to the Game stores, Not a clue how they could fill them with only games and consoles.
 
[TW]Fox;23583027 said:
But potentially this lets them get in on decent locations with a much shorter lease as they can buy the lease from HMV? IF they were looking seperately later on for fresh leases it might be a lot less flexible.

possibly, depends on what the leases are, and what the store owners would want, and if anyone else was on the hunt for the units as well.
 
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