HMV In Administration

[neonplanet40]

This just came up on my phone. Cant say im suprised. Actually what does suprise me is that it has taken so long.

They were generally overpriced compared to online.

[Stringent]

Yeah although their sales after Christmas seemed to be on par with Amazon for most things. As said I think it may have been to clear stock out.

I wonder how many more chains will go into administration this year.

[jim]

I'm hoping they stay alive, quite like shopping in there even if it's a bit antiquated.

Won't kill me if they go though.

[benzeman]

I wonder how many more chains will go into administration this year.

My money would be on game, and possibly waterstones.

[kopite]

I wonder how much of a hit "thats entertainment" Has made on them?

If I`m in town now I`m more likely to go there for cds than hmv

[Gordy]

Not surprising, they have double whammy of competing in a dying industry whilst competing with the likes of Amazon.

[Andy3536]

It's always gonna be tough to compete with the costs involved with renting a property in a town center or shopping center. But it also amazes me just how many of the big chains open 2 stores in the same town/shopping center. They are in direct competition with themselves.

[Kumagoro]

It's obviously just going to get worse for national bricks and mortar companies that sell things which make no difference where you get out from.

It was obvious that places that sold electronics and DVD etc would suffer more and more. However I think high street clothing companies will suffer more and more in the coming years as many now offer free delivery and return. Why bother with all the hassle when you can try it on at home and you can get quidco and discount codes. Pls you don't have to waste money when the wife wants to go to caffe Nero

The cost of petrol driving to places means paying postage it's no worse really.

[vettieboo]

It's sad but seems to be the way things are going nowadays, people prefer to shop online rather than waste fuel and travel to a store and find its not in stock, or have issues parking. Its all more convenient to do it online, which bricks and mortar companies struggle to compete with.

Still, it's a shame to be possibly losing HMV, it was a nice go to in a last minute panic buy situation.

[Chadders87]

They are paying the consequences now for not adapting to new technology. Most music and film sales are online, whether its digitital download or posted physical copy.

Same as Games issue last year, but they have improved their online presence since being bought out.

HMV will likely remain in one form or another with new ownership but I can't see them competing with amazon or itunes. Even LoveFilm and Netflix will be taking away customers.

Its either time to adapt or time to retire for all the old highstreet stores.

[big_hairy_rob]

I'm not surprised. Although their stock is usually high, their business model just does not work in the current economic climate. Why make a massive effort to go to a HMV in a city centre and pay £14.99 for a film when you can go to a convenient supermarket, and pay £12.

The other area where they fail is stock levels. The amount of shops (including borders before them). Do you have a copy of "x". No sir, we don't but we can order you one in for you. What's the point when I can go home and get it for cheaper, more conveniently. It's not long before people get used to waiting for a week for it as it's less stressful.

I'm sad for all the people that may loose their job, but if anything survives from this (And I hope that they do). They significantly need to change their business practices. Amazingly if not, I could imagine one of the other supermarkets (not Tesco) swooping in to set up their equivalent chain of "direct". There is still a market for people buying CD's, there is still a market for people buying films and games, but whether this will or should remain in a city centre is something that needs to be considered

[HalloweenJack]

it seems that HMV Gurnsey are still in operation and accepting gift vouchers

[pp05]

This just came up on my phone. Cant say im suprised. Actually what does suprise me is that it has taken so long.

They were generally overpriced compared to online.

They kept getting handouts which prolonged it which I suspect declined to this time.