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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.

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@John Steed

Sound Machine in the arcade off Station Road stocks a good selection of dance music. I pick up a lot of promos in there for a £3 a pop.

Dog Leg
15/01/2013 at 14:02

@Tobo Smith . . . no great loss there.

BHS is dire and has been for years. Both product quality and product choice is dismal. Went in once looking for some baby stuff when the nippers were small; walked straight out. Pure rubbish.

HMV; whilst I'm sad to see the old brand go, and I will miss browsing DVDs and the odd impulse buy, it really is well past its sell by date. I also feel very sorry for the extremely smiley, friendly staff they have in there.

Common Cents, Reading
15/01/2013 at 13:57

BHS will be the next one to go if their Reading outlet is anything to by...

Tobo Smith
15/01/2013 at 13:46

I once saw Sir Bob Geldolf play live at the Friar St HMV!

EC1
15/01/2013 at 13:17

@GuyG

Yeah, you go into WH Smith's and it's always busy and there's always queues at the tills. I doubt that they're making HUGE profits, but I'll bet that they're at least breaking even.

Daniel in Reading
15/01/2013 at 13:07

HMV failed to evolve

NotJohn, Reading
15/01/2013 at 13:05

Apologies for my spelling :(

berbergirl, reading
15/01/2013 at 12:56

It's not surprising. They refused to change an outdated business model. The prices were far too high.

I haven't shopped there in well over a decade.

I'll cherish those memories of playing the original Gameboy in the basement of the branch opposite the Broad Street Mall though. That was my Saturday morning ritual before a trip to the Odeon cinema in cheapside.

choccielab
15/01/2013 at 12:54

Obviously a lot of people will lose their jobs which in this climet isn't good as lots of other people are out of work but being selfish I am upset about something else. Greap an epic sale! I have got a gift voucher that my friend got me for my Birthday that I can't even use! Totakl waste of money. So now what do I do?!

berbergirl, reading
15/01/2013 at 12:53

in regards to WH Smiths, i do not think they are next as the newspaper market is still a huge one in all honesty and WH Smith does most of the distribution for Fleet Street across the country (at least in this area from when i worked at ASDA lower earley doing the newspapers some years ago)

i would say that their retail model in the High Street might be vulnerable they have at least adapted reasonable to the digital market.

GuyG
15/01/2013 at 12:48

I can remember buying early cds of It's Only Rock n Roll, and Steel Wheels, by the Stones in Quicksilver. Back then, they were cheaper than HMV, too.

THOMAS CASAGRANDA
15/01/2013 at 12:43

Local record store. The one that sold dance music must have disappeared a decade ago, and the one at the top of the escalator (Quicksilvers)in The Butts, twenty years ago !!!!

John Steed
15/01/2013 at 12:38

Dog leg - I doubt many inependant record outlets predate HMV who were first founded in 1921.

Hugh J, Reading
15/01/2013 at 12:28

That's no good if you only have a CD player, Daniel.

Jellybeanz
15/01/2013 at 12:12

Also, forgot to mention that these days, you can play pretty much any song or album for free through streaming websites like Spotify or Grooveshark. Who needs to buy music when it's immediately available online whenever you feel like listening?

Daniel in Reading
15/01/2013 at 12:10

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HMV calls in the administrators

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