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HMV
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Almost: BBC News

Very grim...

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Tree Trunks, I'm all jacked up because of you. Look at my jacked up face!

No surprise but such a shame, I found some right classics browsing through their shops 8)

Expect it to phoenix under the ownership of Apollo Global Management - I suspect there's a deal to be done without closing down too many of the stores.

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JL said...

Oh b*llocks you're right

I was only talking about this today. I read recently that HMV has been essentially subsdised by the large film studios and record companies for a while.

Suppose they have wanted another outlet for their stuff other than the internet. More chance of people impulse buying on the highstreet.

Can't keep that up forever though.

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and from the beginning think what may be the end.

Jobbo said...

Expect it to phoenix under the ownership of Apollo Global Management - I suspect there's a deal to be done without closing down too many of the stores.

I agree

Happening to most retail outlets now as everyone is downloading or buying over teh 'net. Shame, but it's going to happen more and more :(

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Nuts on the road

If they expand their online presence, keep their order service for CD's and add click and collect they'll get more people through the stores.

They'll never succeed against iTunes etc though :(

Should i be worried?

"Your order's in the post and should be with you soon. If you've pre-ordered, we'll aim to get it to you on the day of release (UK deliveries only).

Qty Format Artist Title Price Estimated Delivery
1 CD BAT FOR LASHES HAUNTED MAN £5.00 2-5 days"

Ordered this morning. Toyed with the idea of getting it from Amazon for the same price but thought i'd put a bit business HMV's way instead.

Have i lost a non-virtual fiver? :cry:


They are still selling months old DVD's and games for the same price as the day they were released or even more. I went to their blue cross sale today looking for a mini HDMI lead and the most recent top gear DVD and a copy of black ops 2 for the 360.

None of those things were on sale, the HDMI lead was £20, blops 2 was £43 (I bought it for £38 on the day it was released from HMV?!) and the DVD was £8. I thought fvck it and managed to pick up all 3 from sainsburys for £35. I don't buy music from HMV so maybe that's cheap but every time I go there for games or dvd's it's a rip off.

They can go bankrupt for all I care... It's not like the online industry solely is cheaper than them, every other fvcking shop in London is, including Harrods!

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How about not having a sig at all?

Current CEO of HMV was the CEO of Jessops previously...

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Jobbo said...

Rev is correct, of course

The final resting place of the HMV dog is a car park at the back of Lloyds in Kingston-Upon-Thames, there's a plaque.

That's all I have to say about it.

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+ Non-limited edition of the Exige 240R
- Uninspiring soundtrack

NotoriousREV said...

Current CEO of HMV was the CEO of Jessops previously...

Explains everything. Fvckwit.

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Innit.

Dinny_G said...

I read recently that HMV has been essentially subsdised by the large film studios and record companies for a while.

This. For the music industry, the idea of being totally dependant on Apple & Amazon is not a nice prospect.

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It's not a Golf | Neither is this | This one's just a posh Beetle

I saw this Jessops Staff Clicky

Apparently the worldwide move from high street to online sales, and increase in camera phones over traditional phones is all the governments fault.

I expect the Computer Punch Tape Makers Union the be in similar uproar at the governments ineptitude for not keeping them in business too.

Updated January 15, 2013 at 9:11 AM

exiges said...

Apparently the worldwide move from high street to online sales, and increase in camera phones over traditional phones is all the governments fault.

Don't forget the bl00dy bankers *shakes fist*

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This ^

company was run into the ground by previous CEO simon fox. being privy to all the internal decisions, it's no surprise they've gone the way they have. pouring huge amounts of money into ridiculous ventures (did any of you even know that they made their own social network?), and ignoring the things that matter, like real estate, staff & supply chain.

i have their share price tracked on iGoogle, and will be buying a cigar when the dog finally dies.

to be honest i'm quite surprised they're still here now. it is entirely thanks to universal & friends; they should have died long ago.

phut said...

(did any of you even know that they made their own social network?),

I didn't. Googled and found THIS

What genius decided to call the website GetCloser, which is the catchline for a crappy womens celebrity mag.

Updated January 15, 2013 at 9:30 AM

I've seen property mentioned as being a factor in many of these big business failures. Many large chains owning many shops outright decided (during the last decade) to do a sale and leaseback of all the freeholds - which isn't a mad idea because they are not property companies; they are trading businesses and tying up large amounts of capital in property ownership doesn't help their core businesses.

Not as protected when things go downhill though, are they? And to be honest, if debt is your problem when you have sold off the freeholds then where has the money gone? You should be lean and low on debt, cash rich from the proceeds; that's your safety net. Having a large freehold portfolio just gives you something to borrow more against so, while the timing of their failure may have been different, I can't see that retaining their properties would have saved them.

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JL said...

Oh b*llocks you're right

maintaining them might have. take a look at the trocadero store if it's still open....disgusting, dangerous place. generally had blocked and sometimes chained-shut fire escapes, too.

Updated January 15, 2013 at 9:51 AM

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