Retailer HMV will once again begin honouring gift cards as of tomorrow (January 22nd).
The move is a victory for consumer rights and public opinion.
The decision to block gift cards and stop honouring store credit was confirmed the morning after the chain's collapse into administration.
In other HMV news, it is looking increasingly as if Hilco will be successful in its bid to rescue at least part of the chain.
UPDATE: MCV has just received the following statement from joint administrator Nick Edwards: The ability of administrators to honour gift vouchers will depend on the specific circumstances of each case. Since our appointment as Joint Administrators on Tuesday afternoon, we have been urgently assessing the companies' financial position.
"I am pleased to confirm that, having concluded this assessment, we are able to honour gift cards. I can also confirm that all money raised by HMV for various charities will be paid in full. We recognise that both of these matters have caused concern for individuals and organisations affected and are pleased to have reached a positive outcome.
We will continue to assess the longer term options for the business whilst continuing to trade. I am hopeful this process will result in the business continuing as a going concern.”
UPDATE 2: Having had plenty of enquiries on the matter, MCV can confirm that HMV Ireland is a separate company to HMV UK and is currently in receivership. It is not accepting gift cards and looks likely to close completely in the near future.