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HMV Set To Go Into Administration ...
 
# 1 : Monday 14-1-2013 @ 20:46
 
 
HMV is poised to go into administration as early as Tuesday, delivering a further blow to Britain’s embattled high streets, after suppliers refused a request for a £300m lifeline for the struggling entertainment retailer. Deloitte, which has been advising HMV’s lending banks, is being lined up as administrator to the chain, putting 4,000 jobs at risk.

The expected administration continues the grim start to the new year for the high street, following the collapse of Jessops, the camera retailer, which closed on Friday, with the loss of 1,400 jobs.

Late last week, HMV asked its suppliers, which include music labels, game makers and film companies, for around £300m in additional financing to pay off its bank debt, and fund an overhaul of the company’s business model.

But the proposal was turned down, raising fresh fears that the company would be forced into administration.
The retailer has been hit by the migration to purchasing music and films online. It sought to combat this trend, diversifying into live venues and consumer electronics, but this was not enough to stem the decline in its core market.

http://www.ft.com/cms/s/0/c4096aee-5e82-11e2-a771-00144feab49a.ht etc ...

Its been on the cards for a few years now. I do hope the Irish stores can remain open - I often pop into the Galway branch.
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# 2 : Monday 14-1-2013 @ 20:48
 
 
Oh no!!!

I have fond memories of browsing HMV to decide on what I'm gonna buy on Amazon.
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# 3 : Monday 14-1-2013 @ 21:04
 
 

Reminder to myself* I just want to have fun.
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# 4 : Monday 14-1-2013 @ 21:55
 
 
Piss poor management is to blame. Not seeing that the whole industry was evolving into the download era was it's downfall.
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# 5 : Monday 14-1-2013 @ 22:08
 
 
Someone said :
I worry for the job security of the 4,000 workers. As for my music store of choice I love Tower Records (it really caters for the musical anorak). I spend a small fortune CD shopping there.

One thing I will never do is download music. I absolutely and stubbornly refuse to download music. I want to be able to read sleeve notes, admire the band or artists artwork, find out who produced the music, read the lyrics etc. I want something tangiable. I love my music library. I personally think downloading music has changed music fundamentally and not in a good way at all. It's so much more difficult for bands and artists to get heard anymore.

Downloading has also had a major impact on the ability of independent record shops to survive which is a serious loss to the genuine music fan and bands too.

Down with downloading I say.


You can very easily:
read sleeve notes, admire the band or artists artwork, find out who produced the music, read the lyrics etc
with music that you download.
If you print that information out on a piece of paper, it is suddenly wonderfully tangible and you can actually hold it in your hand.
Yay!
Stick the artwork on the front of a piece of cardboard the size of vinyl album covers.
Stick the other information on the back of the same piece of cardboard and Voila! you can convince yourself that you are holding the music in your hand.


As for
It's so much more difficult for bands and artists to get heard anymore.

- the exact opposite is the case.
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# 6 : Monday 14-1-2013 @ 22:12
 
 
Someone said :
Oh no!!!

I have found memories of browsing HMV to decide on what I'm gonna buy on Amazon.

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# 7 : Monday 14-1-2013 @ 22:23
 
 
Have €10 to spend in it but I never even bother looking into it.

Really shit shop.

Sorry for the staff though.
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# 8 : Monday 14-1-2013 @ 22:39
 
 
Someone said :
Oh no!!!

I have found memories of browsing HMV to decide on what I'm gonna buy on Amazon.

I do that in Currys for big ticket items. I could never get a good phone signal in HMV though. conspiracy!
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# 9 : Monday 14-1-2013 @ 22:52
 
 
Thats why the didn't have love/hate, they owed too much to the distributor.

On that basis, I think the Irish branches are on the chopping block.

I personally would really miss it if it went.
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# 10 : Monday 14-1-2013 @ 23:00
 
 
I usually buy my games there as well as all my phone accessories. I even bought some music there!

I find the staff very polite, helpful and informative.

I have to say that their web presence is truly crap, however.
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# 11 : Monday 14-1-2013 @ 23:12
 
 
Someone said :

I have to say that their web presence is truly crap, however.

Thats their problem. It's all well and good having good staff but they are in dieing industries. Look at the ground floor of grafton street. Even they knew the physical cd was dead. And the bottom fell out of the DVD market a few years ago. Games aren't far off either. They've been pushing hardware but HMV wouldn't be many people's first port of call to buy a pad. They could've gone online and tried to be #2 to ITunes but they put the head in the sand for years. I'm just amazed they survived so long. I think their first restructuring was around 3 years ago.
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# 12 : Monday 14-1-2013 @ 23:23
 
 
They never changed really to give themselves any chance of surviving, they should have done something similar like their competition (amazon etc) by looking into more ecommerce this I feel was their demise they relied too much on their in store sales and not enough on sales online. Their whole business model failed them, if they went to their suppliers with a better business model they might have been saved. As streety said go online selling of cd downloads like Itunes.
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# 13 : Monday 14-1-2013 @ 23:48
 
 
We shall miss Nipper,the gramaphone and his masters voice
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# 14 : Tuesday 15-1-2013 @ 00:09
 
 
Sad to see that up to 300 jobs in Ireland face the chop.
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# 15 : Tuesday 15-1-2013 @ 00:13
 
 
Aww man. I'd miss them if they'd go. I did like to go into HMV and browse through the DVD boxsets and anime DVD's
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