A Further 37 HMV Stores Confirmed to Close
Deloitte confirms additional stores to close.
Struggling music and game retailer HMV is set to close nearly 40 more stores. A few weeks back, music retailer and entertainment company HMV announced that it had officially entered administration. Though little information on the company's future was offered, HMV did say that it had appointed Deloitte as an administrator. Deloitte in turn said it would be keeping stores open while it assesses HMV's situation and seeks a buyer. However, a fortnight ago, Deloitte revealed plans to close a third of the UK's HMV locations.
Now it seems even more shops are on the chopping block. According to the Telegraph, Deloitte has confirmed plans to close 37 more shops. This includes HMV’s four retail locations at London's Heathrow Airport. Deloitte said the closures will "enhance the prospects of the restructured business." These additional closures will bring HMV's number of stores down to just 116.
It's not clear how many additional jobs will be lost thanks to this fresh wave of store closures. A total of 930 staff lost their jobs when HMV shut down the first 66 shops.
HMV has struggled for many years against digital distribution platforms like iTunes and Amazon, which both allow customers to purchase music instantly without leaving their homes. Though the stores also sell game consoles, video games and other merchandise in addition to music and DVDs.
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Jane McEntegart is a writer, editor, and marketing communications professional with 17 years of experience in the technology industry. She has written about a wide range of technology topics, including smartphones, tablets, and game consoles. Her articles have been published in Tom's Guide, Tom's Hardware, MobileSyrup, and Edge Up.
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plattyaj spentshellsGOODReply
Hmm, while you may be happy to see a badly run company get restructured, saying GOOD to news that will throw 450+ folks onto the unemployment line is a little insensitive don't you think? -
spentshells plattyajHmm, while you may be happy to see a badly run company get restructured, saying GOOD to news that will throw 450+ folks onto the unemployment line is a little insensitive don't you think?Reply
Im ok with them finding better jobs
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eklipz330 plattyajHmm, while you may be happy to see a badly run company get restructured, saying GOOD to news that will throw 450+ folks onto the unemployment line is a little insensitive don't you think?as a consumer, your concern is with their customer service and business practices, not with the employees finding a job. if you're concerned with that, find a job at the local unemployment office. if you worry about the employees, you might as well worry about the companies that can no longer sell their items at those stores, which will affect hundreds more.Reply -
everlast66 One more nail in the coffin of the so called "media industry" GOOD!Reply
There is no way the music and film industries can progress into the next stage without these vampires gone for good.
I feel sorry only for the poor people that work there, but I am sure they will find better jobs. -
IndignantSkeptic plattyajHmm, while you may be happy to see a badly run company get restructured, saying GOOD to news that will throw 450+ folks onto the unemployment line is a little insensitive don't you think?Reply
In the future, basically all humans will be unemployed and living on welfare because all jobs will be done by computers, but people will still be richer than before because computers will be so effective and efficient that so much wealth will be created that it could be thrown around easily.
We need to push harder for this future. As long as we ensure to not apply Isaac Asimov's laws of robotics then they will probably not try to exterminate us. -
baconeater IndignantSkepticIn the future, basically all humans will be unemployed and living on welfare because all jobs will be done by computers, but people will still be richer than before because computers will be so effective and efficient that so much wealth will be created that it could be thrown around easily.We need to push harder for this future. As long as we ensure to not apply Isaac Asimov's laws of robotics then they will probably not try to exterminate us.Reply
God in heaven I hope you're kidding and no one else in the world with any kind of power thinks the same.
Please tell me you're 12 years old and have never been outside in the real world?