HMV has gone into administration

Discussion in 'Finance, Property, Law' started by AIR FILTER, Jan 14, 2013.

Welcome to the Army Rumour Service, ARRSE

The UK's largest and busiest UNofficial military website.

The heart of the site is the forum area, including:

  1. HMV has just thrown in the towel after years of struggling to fend off nimbler rivals by calling in administrators in a move which puts more than 4,000 jobs in jeopardy.

    http://www.bbc.co.uk/news/business-21018077

    What the **** has gone wrong with our country?
     
  2. Don't panic. It's not as if they make stuff. Most of those "propper" jobs went years ago. All hail the mighty AM A ZON.
     
  3. Went in HMV yesterday, feck all to buy but straight to video tat. Left without buying.
     
  4. With Comet, Jessops last week and now HMV, that's 11.000 jobs alone in the last 7 weeks!
     
  5. HMV was great to go into and see what the latest movie and music releases were. Then back home to log onto Amazon and get it half price!
     
  6. Perhaps all the highly skilled HMV sales people should get over to Land Rover. They`re hiring I believe. Ohoh, they only want people who can actually do something.
     
  7. Command_doh

    Command_doh LE Book Reviewer

    Another shit store that couldn't diversify goes down - the way it should be.

    At this rate, its worth doing a 'retail dead pool'. I think GAME should die a painful death, and it almost went down last time the administrators were called in.

    Argos looks wobbly too. And those card shops - never see anyone in them. Clintons, **** off, you overpriced waste paper creator!
     
    • Like Like x 2
  8. Wonderful attitude that has killed the High Street. I guess relying on Yodel to deliver all our goods is the future, but I prefer the old way.
     
  9. Wordsmith

    Wordsmith LE Book Reviewer

    The world of retail is changing. HMV with physical stores was trying to compete against internet retailers.

    -- HMV can carry a limited range of music with all the expense of physical distribution.
    -- An on line retailer can carry a virtually unlimited range of music on its servers and distribute it electronically for no cost.

    HMV was never going to win that argument.

    If HMV was going to survive it needed to move away from its current business model five years ago. Unfortunately the HMV Group chose to do that by buying the Waterstones and Ottakars book store chains - another sector under threat from on line retailers who can distribute an unlimited number of ebooks for Kindles electronically from their servers. On line companies can also sell print books cheaper than Waterstones, etc, because their costs are lower.

    Running a major retail chain is hard - you have to be able to see five years ahead and plan accordingly. Get it right and your business prospers. Get it wrong and you're fcuked. HMV got it wrong..

    Wordsmith
     
    • Like Like x 5
  10. money saved better in my pocket than theirs! My new TV will be getting ordered off Amazon too after tour. £400 cheaper than the high street!
     
  11. The old way being getting robbed blind you mean?
     
    • Like Like x 6
  12. Command_doh

    Command_doh LE Book Reviewer

    **** the high street. It's a chav & mong wasteland. Most companies that aren't in soulless super-retail zones like westfields are probably itching for us to all get online so that they can lay off most of their student workforce.
     
  13. Blame the internet mate, in Australia it's responsible for the heinous crime of letting buyers know how retailers have been ripping them off for years. Fair do's if it's only a little bit over the odds, but if I can get the same item at half the price or less, I couldn't give a rat's arse if some twat's shop closes down.
     
    • Like Like x 3
  14. Its not just online sales, Brands such as HMV cannot even keep up with the likes of Tesco, Asda and others. The only time I ever saw HMV, Jessops etc packed out is in the sales.

    The only time I go into the town centre these days is mostly to drink not shop.
     
  15. Wordsmith

    Wordsmith LE Book Reviewer

    Sadly, retail is my specialist subject.

    One of the problems with the high street is that it contains many shops that are run by a single person or a couple. They've learned to run it from experience and don't really understand the theory of retail and how the internet, et al are changing it. And without that knowledge, they're not going to survive. The local shopping mall close to where I live has 1/3 of the shops empty because they've not adapted - and many of those shops were local clothing shops, etc run by husband and wife teams.

    There are ways for those shops to survive, but many of the people that run them are not particularly academic. So they won't get the book they need to read, or they won't read the websites they need to. Here's a good website; Retail Wire.

    RetailWire Home Page - Retail News and Analysis

    Its free, the news letter is excellent and some of the Brains Trust are first class.

    But how do you get a couple running a small shop to start to learn the technicalities? I live in a small village and I found out the shops in the high street have an informal get together once a month in a pub back room. I offered to go along and give a few presentations on retail at no cost and just to help out. I got zero interest - and yet there are shops struggling.

    Until attitudes change, the high street is fcuked.

    Wordsmith
     
    • Like Like x 3