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HMV boss Trevor Moore and financial director Ian Kenyon want the chance to lead the chain out of administration. Speaking to journalists this afternoon, Moore pointed the finger at disappointing technology sales over the Christmas period, claiming that supply lines of key tablet computers were insufficient. Having had a request …
Read More »HMV had soft-launched digital game downloads prior to administration
A digital games store had been launched on HMV.com just weeks before the chain fell into administration. Located under a new ‘games downloads’ tab on the retailer’s homepage, the catalogue is run by Eurogamer-owned GetGames. Prices are reasonably standard although a few deals can be found, such as Far Cry …
Read More »HMV "intends" to honour pre-orders
Customers who have pre-ordered games or other items with HMV have been told not to worry. HMV’s PR boss Gennaro Castaldo told Eurogamer that the chain would intend to follow through on [pre-orders]”. This, of course, depends on both the business remaining open and suppliers being willing to provide the …
Read More »Gift vouchers and store credit not being accepted at HMV this morning
It was the one question we were asked more than any other last night – will customers be able to spend their gift vouchers and store credit in HMV today? And the answer, sadly, is no. Administrators have confirmed this morning that consumers will not be able to use gift …
Read More »HMV confirms intention to enter administration
Retailer HMV has filed notice to appoint administrators. HMV’s shares have been suspended from trading on the London Stock Exchange with immediate effect. It is understood that administrators Deloitte will keep all stores open while it searches for a potential buyer. Here’s HMV’s full statement: On 13 December 2012, the …
Read More »Suppliers’ refusal to answer HMV’s £300m call for help led to administration – report
Tonight’s anticipated collapse of HMV came about after suppliers ignored the retailer’s latest plea for help. That’s according to The Financial Times, which reports that HMV directors last week asked suppliers for yet another financial lifeline to keep the chain aloft – this time to the tune of 300m. That …
Read More »HMV "to enter administration tomorrow morning"
It looks like the time has come for HMV. Having reported just moments ago that the HMV board are tonight holding discussions about what action to take next, mutiple sources are now claiming that the retailer will enter administration in the morning. The Telegraph reports that HMV going into administration …
Read More »HMV board holds crunch talks as retailer ponders administration
The directors of beleaguered retailer HMV are said to be locked in emergency talks tonight as the retailer considers entering administration. Sky News reports that a number of options are currently being discussed amongst execs, one of which is administration. However, further action from lenders could yet give HMV a …
Read More »HMV says Blue Cross sale not related to banking covenants
HMV has downplayed speculation over discounting after an ITV business reporter suggested a blue cross sale might be a way of raising funds ahead of debt deadlines. Announced earlier this week, the sale is set to take place in over 230 HMV stores across the UK and Ireland, starting from …
Read More »ANALYSIS: How HMV is hanging on
We are barely a week into the New Year and once again there is much talk about HMV’s financial troubles. The firm recently warned that it may breach lending agreements this month, and has been in constant talks with suppliers, banks and lenders over Christmas. And in what is becoming …
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