HMV in administration putting future of Grimsby store in doubt
The future of HMV's store in Grimsby is in doubt after the 92-year-old entertainment firm called in administrators.
Twelve jobs are believed to be at risk at the Freshney Place store.
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HMV's Grimsby store is under threat after the firm called in administrators.
Accountancy giant Deloitte was last night appointed to take control of the company.
Its stores were open as normal this morning.
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HMV, which employs more than 4,000 people, said in a statement: "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 directors of the company understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business."
HMV said like-for-like sales fell 10.2 per cent in the 26 weeks to October 27, last year, as its pre-tax loss narrowed to £36.1 million, compared to £50.1 million the previous year.
Shares tumbled 39 per cent after the dismal results were published, giving the retailer a market value of just £10.1 million.
Customers who received gift cards or vouchers for Christmas may be hit by the move after reports HMV bosses told store staff not to accept them until administrators decided how to move forward.
See tomorrow's Grimsby Telegraph for more.
Comments
by Seahunter_1
Wednesday, January 16 2013, 12:46PM
“Wolla247, Sports Directs massive sale is to clear all the JJB stock they bought when that chain went under. It's not a closing down sale”
by Mat_the-Hat
Tuesday, January 15 2013, 8:43PM
“Hardly surprising, it has been impossible to buy a CD in there other than ones that are really, really mainstream for years; no good going in for a good browse anymore. If you want something different you have to order it, takes several days longer than to arrive than if ordered on line and costs twice as much.
Totally disgusting that they are refusing to honour gift vouchers though, this amounts to stealing from all of the customers who bought these as Xmas gifts; they should be made to honour them.”
by sm2006
Tuesday, January 15 2013, 8:04PM
“Sports direct isn't closing its just having a stock liquidation sale.”
by sm2006
Tuesday, January 15 2013, 7:58PM
“Sports direct isn't closing. It's just having a stock liquidation sale as they need to shift the old stuff to make way for the new stock they've purchased.”
by Wolla247
Tuesday, January 15 2013, 5:15PM
“Am not surprised this company is struggling, they are a rip off with 80% of their products. Only products I can think of that was good prices in HMV was boxsets at Christmas times. Comet, Jessops, Staples, Sports Direct... Now HMV, Grimsby town isn't looking good”
by grimrich
Tuesday, January 15 2013, 4:39PM
“so if they not excepting vouchers , isnt that theft under exchange of goods , can we redeem our money back from then if they wont exchange for goods ,what do i do with my £10 pound voucher given to me as a gift , they took that money didnt they”
by Grimbarian
Tuesday, January 15 2013, 3:36PM
“Malcolm_Ex - "Secondly, it just sells cheap DVDs..."
It's actually the opposite. They have a large selection of DVDs, but they're more expensive than the supermarkets and online sites such as Amazon.”
by grim69
Tuesday, January 15 2013, 12:42PM
“Nobody wants to pay £17 for a Slipknot album anymore...”
by davendogs
Tuesday, January 15 2013, 12:06PM
“I'm surprised they lasted this long. They got a bad name and that was well before the turn of the century. More recently, it doesn't help telling staff to look more boardroom than having, coming across with hands on knowledge.”
by Malcolm_Ex
Tuesday, January 15 2013, 10:26AM
“Two problems with HMV. Completely missed the boat regarding online sales and downloads. Secondly, it just sells cheap DVDs, tablets, and very little music.”