Jobs at risk at HMV in Festival Place (From Andover Advertiser)
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Jobs at risk at HMV in Festival Place
9:40am Tuesday 15th January 2013 in Basingstoke By Emily Roberts, Chief Reporter
HMV has become the latest casualty on the high street after appointing administrators today, putting 4,350 jobs at risk.
Deloitte is now looking for potential buyers for the music and DVD chain, which has a store in Festival Place, Basingstoke – one of 239 in the UK and Republic of Ireland.
Trading in HMV shares has been suspended and shops are no longer accepting gift vouchers or issuing any more. The news comes just a few days after camera chain Jessops went into administration last week, closing all of its stores, including one in The Malls, Basingstoke.
Andy Brown, 33, from Brookvale has vouchers left over from returning an unwanted Christmas present at HMV. He said: “From what I’ve heard, HMV knew this was going to happen for a while, so why didn’t they give their customers some sort of warning to spend their vouchers? Thankfully, mine are not worth too much, but there must be others out there who were given larger quantities at Christmas, which are now going to waste.
"They still have products for sale in store, so why can’t I use my voucher to pay for them?”
Do you work for HMV in Basingstoke or do you have vouchers which can no longer be used?
Call Emily Roberts on 01256 337410, email emily.roberts@basingstokegazette.co.uk or Tweet @erobertsgazette.
Comments(10)
Sensory
says...
10:33am Tue 15 Jan 13
Folkestone Saint wrote:You think that paying more in bank interest would have helped HMV stay afloat? Really?
So yet again another business is lost due to banks not lending to them, they have to realise that soon they won't have any busineses left to lend too, still as long as 5 or 6 people have their bonuses they don't have to worry about the 1,000's of people who are now out of work since the start of the year. Shame on you
Personally, I'd try and get rid of the debt. Spending money on the credit card soesn't make you successful. Indeed, exactly the opposite happens
JJ38JJ
says...
10:50am Tue 15 Jan 13
Folkestone Saint wrote:What banks? What loans? What bonuses? What are you talking about?
So yet again another business is lost due to banks not lending to them, they have to realise that soon they won't have any busineses left to lend too, still as long as 5 or 6 people have their bonuses they don't have to worry about the 1,000's of people who are now out of work since the start of the year. Shame on you
Comet, Jessops, HMV, etc. are going out of business because they can't compete with on-line retailers. I don't know how borrowing more money would ever deal with that. Bearing in mind the Administrator would pay off any bank loans before they settled unpaid wages it's a good job for their employees that they didn't borrow any money prior to going bust.
Folkestone Saint
says...
11:38am Tue 15 Jan 13
Sensory
says...
11:59am Tue 15 Jan 13
Folkestone Saint wrote:FS. It is exactly the same principle.
Dear ill-informed Sensory and JJ. It is about securing business, suppliers want garuantee's in place that they will be paid, this is done by banks saying "yes the money will be made available", it is called "a line of credit" that most small and large companies use, HMV don't go out with a credit card and buy a couple of DVD's and an X-Box game from their suppliers, what stupid coment's.
And refusing to increase the credit card limit, if this is the actual problem as you say, is the same principle that suppliers and banks use when analysing HMV's £180m of debt and losses of £38m.
More interest payments on top of that is not the way to go. Indeed, it may have been the reason behind the news above.
robertspet8
says...
1:52pm Wed 16 Jan 13
Folkestone Saint wrote:Clearly Sensory does not have a clue what you are talking about. I do understand but I disagree with your assumption that a further extension to HMV's line of credit would have resulted in a better outcome.
So yet again another business is lost due to banks not lending to them, they have to realise that soon they won't have any busineses left to lend too, still as long as 5 or 6 people have their bonuses they don't have to worry about the 1,000's of people who are now out of work since the start of the year. Shame on you
HMV has an outdated business model, crippling debts and is paying very high rents for their prime positions. However, I think there is a place for a High Street retailer of music, films, games and other entertainment products. But, as a minimum, they will need to: negotiate lower rents; place a cafe in every branch so that people visit for social reasons; introduce listening/viewing/ga
ming booths; and, last but not least, have a strong online presence (website/social media/etc).
Hooked on you
says...
3:32pm Wed 16 Jan 13
Sam_Walker123456
says...
4:24pm Wed 16 Jan 13
Hooked on you wrote:The Guardian online said, 'The administrator, Deloitte, said the retailer would not accept gift cards and vouchers as long as it was in administration, but there was a chance any new buyer might consider honouring them.' But don't hold your breath.
Oh dear I have £50.00 in Gift vouchers that I had for Christmas. Can anyone give me advice on what to do next? Thank you.
If they were bought using a credit card it is worth asking your credit card company for help.
Hooked on you
says...
5:20pm Wed 16 Jan 13
Folkestone Saint
says...
11:44pm Wed 16 Jan 13
Sensory and JJ, I was genralising in my first blog, and not talking soley about HMV, however I feel most for the staff
Folkestone Saint says...
10:07am Tue 15 Jan 13