You won't get this on Amazon: Fans queue to see Viva Brother at HMV at the Oracle
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HMV calls in the administrators
January 15, 2013
Music and film chain HMV has announced it is calling in the administrators, putting about 4,500 jobs in doubt.
The company's 239 stores, including one in The Oracle and one in Charles Square in Bracknell, will continue trading while potential buyers are sought.
However, the shops will not be accepting or issuing gift vouchers.
The 90-year-old chain has struggled against the growing popularity of downloading music and films and competition from supermarkets.
A statement by the company said: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect."
The news comes just a week after camera retailer Jessops closed down and follows the collapse of electrical goods store Comet last year.
At one point, Reading had a second HMV store in Friar Street as well as a Virgin Megastore, in St Mary's Butts and Fopp, in West Street.
The Oracle HMV is now the town's sole surviving dedicated music and film retailer apart from charity and second-hand stores.
Most recent user comments 15 of 72
18/01/2013 at 09:22 Offensive or Inappropriate?
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17/01/2013 at 11:31 Offensive or Inappropriate?
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However, to continue being critical of Deloittes, means that there could be a tendency to go off message.
I just hope the administration of HMV is in safe hands.
16/01/2013 at 15:29 Offensive or Inappropriate?
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They show a shocking bias towards Cameron and Gideon.
Now, I wonder what accountancy firm handles Amazon.co.uk's affairs ?
16/01/2013 at 15:21 Offensive or Inappropriate?
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Many years' ago, when I finished my Post Graduate degree, I applied for a job with Deloitte Touche, as they were.
They were impressed with the qualifications, and I had my suit on, ready for interview, when a call came through, an hour prior, saying that they had changed their minds.
They are a terrible firm of inefficient insolvency administrators, and a terrible set of accountants. You would have been in safer hands if a reputable firm, like Grant Thornton, Wilkins Kennedy, et al, dealt with HMV's administration.
16/01/2013 at 15:11 Offensive or Inappropriate?
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Cams and Gideon shaft the country, send hordes of high street regulars to the wall - then chums from the Carlton hoover up the remnants into their wallets.
16/01/2013 at 14:35 Offensive or Inappropriate?
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16/01/2013 at 13:16 Offensive or Inappropriate?
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The holder of a gift card will be ranked the same as company that has supplied HMV goods. Given that the supplier could go under if not paid thereby causing more job losses, I would argue that gift cards should be ranked lower than that.
Hopefully HMV will come out of administration and people will be able to use gift cards in future... though they may have to travel a bit further to find a HMV store.
I did hear in the news that some stores continued to sell gift cards after it went into administration. I sincerely hope that is not true as that really is tantamount to theft.
16/01/2013 at 12:40 Offensive or Inappropriate?
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Thats a bit rude. Glad i dont buy gift vouchers
16/01/2013 at 11:45 Offensive or Inappropriate?
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Thank you.
16/01/2013 at 08:33 Offensive or Inappropriate?
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There's no personal insults flung at me by a certain person.
To quote John Prine, a musician whom HMV have minimal stock of "It don't make much sense: that common sense don't make much sense anymore".
16/01/2013 at 08:19 Offensive or Inappropriate?
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16/01/2013 at 07:29 Offensive or Inappropriate?
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15/01/2013 at 23:05 Offensive or Inappropriate?
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I know: mea culpa, mea maxima culpa.
It's a great book, though.
15/01/2013 at 21:12 Offensive or Inappropriate?
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The film version Life Of Pi is Ang Lee's cinematic adaptation of Yann Martel's 2002 Booker winner.
Not a tie-in, filmic or otherwise, as this would intimate that both were released simultaneously - ostensibly for the purposes of theatrical promotion.
If you must erroneously use such terminology as 'filmic' then you must expect all the ire that pedantry can muster.
15/01/2013 at 20:32 Offensive or Inappropriate?
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