HMV in Gloucester and Cheltenham WILL close
HMV stores in Gloucester and Cheltenham are to be closed, it has been confirmed today by their administrators.
The music store fell into administration in January but there had been high hopes that the Gloucestershire stores would be saved.
But administrators Deloitte announced this morning their fate.
In a statement, Nick Edwards, joint administrator, said: "As part of our ongoing review of HMV's financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure.
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"This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern.
"Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores.
"We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance."
The affected stores employ 464 staff.
No fixed date is set for the closure of the stores which will continue to trade in the meantime.
Iit is expected that closures will take place over the next four to six weeks in parallel with the 66 stores that are already subject to a closure programme.
HMV currently operates from 219 stores in the UK.
4 Comments
by Ms_Superstar
Thursday, February 21 2013, 8:37AM
“Auto completion. :-(”
by Ms_Superstar
Thursday, February 21 2013, 8:34AM
“I agree entirely with Jewbacca, though as a DJ I don't have the option of dodgy download sites. I also have to pay a fee if I want top rip my existing CDs, though this doesn't put me off as much as the time needed top do it. And I'm sure that burning a CD to play out would be a real no-no. And the venue still has to have PPL and PE licences. And PRS if they have live music. But I digress. The music retail industry issue a real mess, partly because of online competition, partly because of copyright theft but mainly of its own making.”
by Jewbacca
Wednesday, February 20 2013, 10:35PM
“Years ago when I was more flush with cash than now, me and a friend used to be there every week buying a stack full of CDs. I've accumulated over 5,500 of them, all now ripped to my server - so I can listen to them at work, on my phone, etc.
Last time I was there a year ago I was after a rare Johnny Cash album. All they had was a Greatest Hits job, nobody was bothered about ordering it for me.
I looked on my favourite dodgy site and they had over 60 of his albums, all in CD quality (not mp3), with album art and everything.
Guess where I 'acquired' the album?
I don't understand the love for HMV, they ruined loads of independents, were more interested in selling XBox games and overpriced headphones, and completely lost their core market. I'd happily pay 30% more than online to get a CD there and then. They didn't give a toss about this market, so why should I care about them?”
by Ms_Superstar
Wednesday, February 20 2013, 9:20PM
“Shame. We never miss the water etc.
But last time I went there I got the impression they didn't want the business.
I was looking for a particular song. I was told they didn't have any albums by that artist and couldn't tell me which album the song was on. It took me two minutes to Google it on my smart phone and after drawing a blank at Rise and Badlands, a couple more minutes reluctantly to order it from Amazon. It took only a couple of days to arrive. HMV could have done the same, and only a couple of years ago they would have.”