HMV into admin tomorrow. Who next?

[Rich Suvner]

Blockbuster, how does it survive?

If ever an organisation missed a fundamental market shift it was Blockbuster. Why do they not have an online streaming service?

 

[brightn'ove]

This is hilarious (obviously not for the people who work there).

Only today me and my housemate were in HMV, he has a gift card and i was saying about how jessops went into admin and all gift cards were voided. He couldnt find anything he liked and said 'oh well they'll be here tomorrow'.

 

[HovaGirl]

Any shop which is vulnerable to competition to buying from online such as other record shops or bookshops. The High Street is dying and that means, so are traditional retail jobs. You will be ordering your frozen peas from a call-centre in India, soon.

 

[brightn'ove]

Any shop which is vulnerable to competition to buying from online such as other record shops or bookshops. The High Street is dying and that means, so are traditional retail jobs. You will be ordering your frozen peas from a call-centre in India, soon.

the only thing that will survive will be clothes shops.

 

[HovaGirl]

I thought HMV was announced a couple of weeks ago?

Yeah, I remember it being mentioned a few months ago as being a contender for administration.

 

[Sussex on Leith]

It's a bit of a shame but their products were absurdly expensive, especially compared to other places.

What will happen to the other places they own (They own Fopp!, don't they? I loved that shop) and their promotions of places like Hammersmith Apollo etc?

Yep they own Fopp, having bought the brand and a few of the more profitable shops when it was in administration itself, so presumably that will go the same way.

I think HMV sold the ticketing/venues side of things, along with Waterstones, to raise money to keep themselves afloat, but that was only ever going to work for a short while.

I'm interested, and slightly worried, to see what effect this has on a music industry that's already in a bad way. And from a selfish, nostalgic point of view, it'll seem weird in the future not to be able to hear something on the radio then go into town and buy it. But then, I didn't do that very often, which is kind of the problem...

 

[HovaGirl]

Robert Dyas

They're dirt cheap and sell the kind of stuff you don't get on the internet, so they may well survive. Trouble is, if there are only clothes shops in Western Road or George Street, who's going to pop into Robert Dyas for a kettle or a bird-table? Of course, they could begin to dip into the CD market . . .

 

[Gullys Cats]

Sad times


( f@@@ing expensive though hmv)

 

[Poyetry In Motion]

*crosses fingers and prays it's Starbucks *
It won't be though, will it? Ho hum

My guess is............H&M. I've nothing to back up my selection, just a pure guess

 

[HovaGirl]

Could be M&S. It struggled over Christmas and it's been struggling for years. I thought the world had ended when Woollies closed, but the end of M&S would be a cultural disaster.

 

[KZNSeagull]

I was talking to one of these retail marketing experts last week and he was saying that there is every chance that big Internet retailers like amazon will be looking to build showrooms on the high street, where they don't sell anything, but you can view something before purchase on the Internet.

Next one that could go he thinks will be Argos.

I don't see how this would work. Amazon take billions in turnover every year but rarely make a profit. The business model seems to be to sacrifice short term profit for long term market share. But what is the point in market share if you don't make a profit? They seem to be relying on investors sticking with them as eventually they may make a lot of money. When though? I don't get it.

 

[Deleted member 22389]

Yep they own Fopp, having bought the brand and a few of the more profitable shops when it was in administration itself, so presumably that will go the same way.

I think HMV sold the ticketing/venues side of things, along with Waterstones, to raise money to keep themselves afloat, but that was only ever going to work for a short while.

I'm interested, and slightly worried, to see what effect this has on a music industry that's already in a bad way. And from a selfish, nostalgic point of view, it'll seem weird in the future not to be able to hear something on the radio then go into town and buy it. But then, I didn't do that very often, which is kind of the problem...

The problem with Digital Downloads is that you don't get anything physical anymore. Part of buying CD's, DVD's, Tapes and Records is that you created a collection that you could look back on. I think it's a shame to see any another household leaving our high street. Eventually none of us will have a job. There will be just a handful of retailers taking all the money.

I know China has nothing to do with the Music Industry, but the sooner we also stop relying on them for our electronic goods and everything else and start manufacturing goods in this country again, the better off we will be. Manufacturing can create millions of jobs and the profits don't go to one company either. Manufacturing involves many other companies coming together to provide parts and services, which creates jobs.

 

[Woodchip]

Yeah, I remember it being mentioned a few months ago as being a contender for administration.

Apparently if they managed to last out 2012 the new legislation about not selling CDs and DVDs from outside the UK should have meant they were safe. Guess it didn't come quick enough for them.

 

[BUTTERBALL]

A very sad day for British retailing and another much-loved brand in massive trouble. I seriously hope they find a buyer, even if it means losing unprofitable stores. I still enjoy going in to the HMV store in Brighton and browsing online just isn't the same. They even opened up the old store as a pop-up before Christmas which brought back some memories. Purchased my first single and album at HMV.

 

[Berty23]

I fear this is all my fault. When I was about 15 I bought jimmy white's whirlwind snooker for 15 quid as it was on a special offer. When I got home it did not work on my pc. I had bought it in the Oxford street store when visiting my Aunty in London and we did not have a local hmv in Devon for me to change it. I put it in the post to my Aunty who went to take it back but I had forgotten to include the receipt. When she got to the store it was full price and they have her a full refund of 35 quid.

I made 20 quid and that is why I could not sleep last night. Sorry hmv.

This was in c1994

 

[beorhthelm]

3 things to blame:
1) Tax dodging amazon
2) Kids/people that illegally download to steal from the artist
3)

Unfortunately this is going to hit the small films that rely on the bowsers marketplace. It's sad

firstly they dont dodge tax, they pay it in Luxembourg. thats the EU and single market for you. secondly, 15-20 years ago everyone was lamenting the closure of the small independant record shops, as a combination of HMV/Virgin and kids tape-to-tape recording ran them out of business. the time change, and ironically the small firms may benefit from this as demand build for shops run by knowledgable enthusiasts in different niche areas. you cant blame new business models or politicians for encumbant companies poor business model. regardless of tax Amazon and other online would still be preferential to HMV when i can buy anything online and have it delivered home rather than wander around racks of discounted rock, pop and compilations.

 

[surrey jim]

My two pence worth for store closures: 1- Halfords. Have been on thin ice before.
2 - travel agents (retail arms) how many people in this day and age go into a travel agent to book all their travel? Most of the time I go its just to pick up a brochure then book online.

 

[viscentaye]

I miss Rounder Records

 

[viscentaye]

Not sure Argos will die on its arse but can see a situation where a number of its retail outlets are closed with a greater focus on online business.

Next high street victim...... A few mentioned already which I agree with but would also add Mothercare to that list. Cheaper alternatives offset stock items available elsewhere and not apparently doing much to change with the times.

 

[KZNSeagull]

firstly they dont dodge tax, they pay it in Luxembourg. thats the EU and single market for you. secondly, 15-20 years ago everyone was lamenting the closure of the small independant record shops, as a combination of HMV/Virgin and kids tape-to-tape recording ran them out of business. the time change, and ironically the small firms may benefit from this as demand build for shops run by knowledgable enthusiasts in different niche areas. you cant blame new business models or politicians for encumbant companies poor business model. regardless of tax Amazon and other online would still be preferential to HMV when i can buy anything online and have it delivered home rather than wander around racks of discounted rock, pop and compilations.

I don't disagree, but I am concerned that Amazon's business model is not sustainable. At some point Amazon's investors are going to want to see them make a profit. When that will be is anyone's guess.