To say HMV is going through a bit of a rough patch at the moment would be something of an understatement. The music retailer and entertainment company announced that it had officially entered administration last week. Though little information on the company's future was offered, HMV did say that it had appointed Deloitte as an administrator and Deloitte said it would be keeping stores open while it assesses HMV's situation and seeks a buyer.
While the news that all stores wouldn't be closing immediately was positive, the company did have some bad news for customers, confirming that it wouldn't be accepting any more gift cards or vouchers. Unfortunately, this also applied to those that received vouchers as recently as Christmas 2012.
Luckily, it seems there's been a change of heart. According to CNet, HMV will be honouring vouchers from Tuesday, January 22 onwards. However, you'd do well to use them before the company's status changes yet again. Should HMV change hands, the new owner may decide the old HMV vouchers are no good.
"I am pleased to confirm that, having concluded [an] assessment [of the business], we are able to honour gift cards," the Guardian cites Nick Edwards, joint administrator for HMV Group, HMV Music and Fopp, as saying.
Edwards also revealed that any funds raised by HMV for various charities will be paid in full. The music shop has routinely raised money for charitable organizations through charity singles.
HMV opened in 1921 and operates over 270 stores across eight countries. HMV's Canadian stores are unaffected by recent events because it was sold to a private equity firm Hilco last year and the Canadian stores are no longer a part of HMV Group PLC. This means they'll remain open despite the fact that the fate of their UK counterparts remains undecided.