HMV about to go bust?

[hitony]

No great loss.

Not to sure the employees would agree to that, if they do go through a lot of people will be affected by job losses, also the knock on effect it has with industrys related to it.

 

[Rookie]

Simply can't compete with the internet Play and Amazon do everything cheaper. Would be a shame if they were to go and would decimate already crap town centres

 

[Raphael Meade]

No great loss.

it would actually be a fairly significant loss for smaller labels and distributors, for who HMV are one of the only retailers who will take stock on a non-sale and return basis.

 

[Mtoto]

yeah, Zavvi weren't even competitve within the high street. i always recall Virgin was better than HMV, so dont know how they went so wrong so quickly after the buyout.

Have a feeling that the big problem for Zavvi was that their stock came via Woolworths. When Woolies capsized, Zavvi suddenly had nothing to sell, cashflow problems ensued and next thing you know, they're closing the doors.

 

[Guy Fawkes]

Have a feeling that the big problem for Zavvi was that their stock came via Woolworths. When Woolies capsized, Zavvi suddenly had nothing to sell, cashflow problems ensued and next thing you know, they're closing the doors.

They were supplied by Entertainment UK, who were a part of the Woolworth group. I was very surprised that they weren't snapped up by someone else as they were one of the most profitable parts of the group and despite a lot of interest from potential buyers which even is supposed to have included the BBC

 

[Guy Fawkes]

They've had a terrible Christmas, and not sure the decision to close 60 stores will be enough to keep the banks happy.

I think that the snow's a major reason for the bad figures, and that won't happen every year so it may be more acceptable for the banks to allow HMV to continue trading rather than panic and call in their debts.

However the future may not be that bad as the snow also badly affected online sellers like Amazon as they had a lot of orders that didn't arrive in time due to the snow. This could mean that more buyers may return to the High Street stores in future years to ensure that they have their gifts in time for Christmas Day

 

[Badger]

I just walked past HMV on Western Road and it appears to have closed down, a sign in the window pointing people to Churchill Square and shelves being taken down.

 

[northernblue]

I was in my local HMV the other day for the first time in ages and it seems to have dramatically reduced it's music section + instead sold TVs, radios, books and clothes as well as dvds, consoles etc..

I'm not sure this is a good idea either as by having such a range they can't keep prices down. It's what SMiths tried to do a few year's back before everything went t*ts up wit them.
I wonder if they have admitted that they cannot compete with the internet in terms of price so will try instead and rebrand themselves as a one-stop-shop for electronics on the high street.

Either way I hope it doesn't go bust,still one of my favourite shops.

 

[Wozza]

Not to sure the employees would agree to that, if they do go through a lot of people will be affected by job losses, also the knock on effect it has with industrys related to it.

That's insightful.

I was referring to me. I don't need a chain of store which is so unfocused on the consumer.

Its core business model is based on charging high prices to an increasingly dwindling market which buys CDs on impluse, and/or is too stupid or unable to buy products (much) cheaper online.

That business model is prehistoric, and is doomed to failure. F*ck 'em.

 

[fire&skill]

I went to buy Dr Feelgood's 'Down By The Jetty' Deluxe Edition on CD in HMV Churchill Square yesterday

It was priced £21.00. For a double CD from the mid 70s

Can't think why they're going down the tubes

 

[Nathan]

I went to buy Dr Feelgood's 'Down By The Jetty' Deluxe Edition on CD in HMV Churchill Square yesterday

It was priced £21.00. For a double CD from the mid 70s

Can't think why they're going down the tubes

Only £9.99 online!

 

[Acker79]

Only £9.99 online!

There's two versions, one is £9.99 on amazon, or the collectors edition (rrp£20.99) which is £12.45 on Zavvi.

MegaShopBot - Instantly selects 'n' searches THE BEST shopping comparison sites is good for finding cheapest items.

 

[Couldn't Be Hyypia]

Toy sales online have lagged behind other items in part because of the dreadful Christmas of 2000 when they failed to deliver many gifts in time for Christmas. They went bust in 2001. For a very long time people would not trust online companies to deliver Christmas presents. Only in recent years has the date after which people won't trust online to deliver for Christmas crept forward. The involvement of high street retailers like Tesco have reassured people, along with far wider use of the iternet for shopping. This general rebuilding of confidence in the internet to deliver on time has really hit retailers hard. Some of this will have effected HMV I am sure and will have significantly reduced their Christmas sales in 2010.