HMV Goes into Administration

HMV is the latest in many of the UK's well known high street retailers to go into administration, over the last few years. Following suite from Curry's - an electrical retailer who recently went bussed after failing to encroach onto the global and online markets.

Although HMV have an online retail store, which is very popular these two companies are not actually one in the same. Recently trying to return a product to the HMV store I was informed by a cashier and manager that as this item was not bought from a store in the UK but from the online store, that they could not issue any form of refund or exchange as the stock and finances are totally seperate! What does this mean? Can we expect to see HMV disapear from our high streets, and continue to shop on their online stores freely?

On another point, what can HMV shoppers expect regarding their returns and their refunds, especially on Pre-Order games like the long awaited GTA V?

Well, these worries now come after HMV requested a lifeline bailout of £300 Million. With the almost certain closing of stores HMV are set to lose a whopping 4,000 staff, long with Jessops who recently went under also having to cut jobs making 1,400 people jobless. This is certainly not what people need to be hearing or seeing in this current economic climate.

Oddly enough, Trever Moore, who is the chief exectuive of HMV at this time, was also a former chief executive of Jessops odd how both companies would go bust so close to one another isnt it? Non executive director of HMV David Adams is also the former chairman of Jessops.

The collapse of HMV would deal a further blow to the high street. Last year saw the failure of JJB Sports, Clinton Cards, Game Group, Peacocks and Blacks Leisure, although most were subsequently acquired in a slimmed-down form