Staff at Derby HMV store face uncertain future

“"which can sell CDs and DVDs at a cheaper price"

Should've thought about their business model for the last 50 odd years.

Have to feel for those losing their jobs, yet if it bring on an asset/commodity price depression that can only be a good thing. No doubt a coffee 'bar' will spring up in the premises though, maybe with the old employees having a few shoeshine stands outside!”

“oreo89 - you clearly are the biggest degenerate of the highest order.”

“I am glad that my son cashed in his vouchers last week which I had brought him for Christmas. If he had not I was quite prepared to walk in store and take a DVD and throw them the voucher, and then take the consequencies later. Why should the honest punteer be the one to lose out. Having had dealings with liquidators in the past, they make vast profits from looking after the Company before they start to pay ouy.
It may be illegal but I would shout it out at Court about them stealing my money by selling me a worthless voucher, as someone commented earllier they must have known it was going to happen.
It wont suprise me if another big name bites the dust with all the rumours that are flying around so I would agree with everyone in that in todays climate it is unsafe to buy a gift voucher.”

“Good, I am glad they are loosing their jobs, last time I visited, staff were rude and unhelpful.

Innovate or die! Physical music is dead, all music that really matters (majority of sales) are sold digitally now. The HMV brand would have made a good internet music store, however, I think its a little too late for them to enter the market now as a newcomer with already established super brands, unless they can do something different and revolutionary. I am glad HMV has failed, it leaves room for another start up to take their place. Not that we are short of space in Derby with all the empty retail units. This is a fertile breeding ground and I hope some innovative new company spring up out of it. Out with the old, in with the new. Innovate or die!”

“Disgusting they can refuse vouchers and gift cards, especially when the company must have known they were in trouble and still sold them to customers in the weeks leading up to Christmas.
The moral of that, given the number of shops going to the wall lately, is don't buy gift cards for birthdays or Christmas in future from any store.”

“Davsl - Re your gift vouchers...

When whoever bought your gift vouchers they were effectively lending HMV £40 on the basis you would get £40 of goods in the future. As the holder of those vouchers you are now a creditor of HMV alongside their many other creditors such as product suppliers, landlords etc.

HMV still exists but is in administration. This places a moratorium around the company and stops all legal actions. A legally appointed insolvency practictioner takes over the running of the company and will decide who needs paying first. Unfortunately your £40 worth of goods will be in a long queue behind companies owed millions of pounds.

If you hold tight, if anyone buys or rescues the company and it comes out of administration they may start accepting the vouchers again (sometimes they don't have to but will do as a PR / good will gesture). If not, you will have to write to the administrator and make a claim - with little chance of success.

Personnally I have avoided buying any store gift vouchers the past couple of years because of the risk of the shop going under.”

“They are in adminittstration so technically the company that sold you the voucher no longer exists.
Morally its wrong, but legally they are right.”

“Such a shame because my partner and I love HMV, we also shop on the internet too, downloads etc, but you can't beat actually looking around the shop and they've usually got some great bargains, dvd's 3 for £20 or cd's 3 for £10, we usually spend a fortune every time we go in having spent at least 2 hours in there lol.
It'll be sadly missed, who's next for the chop...”

“Makes me sick I tried to use my £40 vouchers this morning but they would not take but still taking cash of people how can that be right”