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HMV facing administration


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Would you like to buy a bar of fruit and nut or whole nut for £1.99? I mean obviously you haven't put it on the counter to show that you have any interest in buying a bar of fruit and nut or whole nut but maybe I can convince you by highlighting the fact that it is overpriced but in truth a bit too big for an evening treat. Anyway, are you interested? Only £1.99! No? How about a bag of fruit pastels or maybe a 2 litre bottle of coke? No? Just the DVD then? Are you sure? What really? Ok, just the DVD... How about an Ice cream? Sir... Sir.... what so you mean you'll just stream it? Oh FFS!

 

 

Mirror image of my last trip there. Obviously their DVD rental business was dying anyway but being hassled by their staff to buy stuff I didnt want just acccelerated me moving to streaming.

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Mirror image of my last trip there. Obviously their DVD rental business was dying anyway but being hassled by their staff to buy stuff I didnt want just acccelerated me moving to streaming.

 

I don't know why someone didn't think about bringing the hard sale 'concept cars' technique into the newsagents business earlier.

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Sign of the times with VIRGIN stores in big trouble and close to falling into administration here in France. French courts yesterday put them under an 8 week court controlled winding up order. Here in France the law better protects customers and staff.

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Sign of the times with VIRGIN stores in big trouble and close to falling into administration here in France. French courts yesterday put them under an 8 week court controlled winding up order. Here in France the law better protects customers and staff.

 

Needs to be stated that they're no longer part of the Branson Virgin group though, haven't been for years. Branson sold the chain to Lagardère who sold them to someone else. Usually French problem, social charges way too high to continue to exist in a cut-throat market.

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I wonder if councils will stop charging people a small fortune to park before or after the last shop on the high street has gone to the wall? Even if the shops have deals that could match online stores you still end up paying far more in petrol and parking than the postage costs.

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My sympathy for HMV has just evaporated with the news that they are doing a Comet and not redeeming gift vouchers.

 

who are "they" that you dont have sympathy for now? Staff will have had no part in this, and they are most likely facing redundancy. I did not have any sympathy for the senior management anyway, they are to blame (along with any one of us who has purchased from amazon, tesco, play....)

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My sympathy for HMV has just evaporated with the news that they are doing a Comet and not redeeming gift vouchers.

 

I would have thought that was a rule laid down by the Administrator..? Was certainly the case when I was working for Threshers group and they went pop.

 

Interesting article here (albeit from a few months back) that illustrates the kind of mentality that has led to this. Certainly sounds a lot like the company when I was there.

 

http://www.philipbeeching.com/2012/08/why-companies-fail-rise-and-fall-of-hmv.html?m=1

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I would have thought that was a rule laid down by the Administrator..? Was certainly the case when I was working for Threshers group and they went pop.

 

Interesting article here (albeit from a few months back) that illustrates the kind of mentality that has led to this. Certainly sounds a lot like the company when I was there.

 

http://www.philipbeeching.com/2012/08/why-companies-fail-rise-and-fall-of-hmv.html?m=1

 

100% yes. Deloitte will have called this. Not legal to pay one group of creditors (voucher holders) over others (suppliers, landlords, staff). The only "however" is if they want to trade for a long time (unlikely) and so agree to honour vouchers post Administration to keep some loyalty. Or a purchaser agrees to voluntarily, after buying some stores, but again it is very unlikely

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HMV no longer accepting gift cards already.

 

I and my partner went to the Above Bar store this morning at 9:15 and the staff have already been told not to accept them.

 

That's £60 we're down between us. Guess we'll be registering as creditors. :/

 

I always find this amazing that the first thing that refuse to honour are gift cards that were bought and paid for with well intentioned cash, they are basically defrauding you, as they have had your money and refusing to honouring it when they still have good available that they can exchange for the gift card.

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I always find this amazing that the first thing that refuse to honour are gift cards that were bought and paid for with well intentioned cash, they are basically defrauding you, as they have had your money and refusing to honouring it when they still have good available that they can exchange for the gift card.

 

Never understood the point of the gift card, its just style & no substance. A crisp ten or twenty does the same job, works in every UK store & will be honored if the company calls in the receiver?

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I always find this amazing that the first thing that refuse to honour are gift cards that were bought and paid for with well intentioned cash, they are basically defrauding you, as they have had your money and refusing to honouring it when they still have good available that they can exchange for the gift card.

 

Why is that any different to the suppliers or the banks or any of the other creditors who have advanced goods and services in good faith?

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I always find this amazing that the first thing that refuse to honour are gift cards that were bought and paid for with well intentioned cash, they are basically defrauding you, as they have had your money and refusing to honouring it when they still have good available that they can exchange for the gift card.

 

It's not the first thing they do. It's just the first thing that gets reported. Equally first are not paying a single unpaid supplier, or landlord, or staff member, or local council rates. Suppliers will have delivered goods costing well intentioned cash, sometimes only the day before. It is all the same and its called insolvency, not fraud. Administration = insolvent = not enough money to pay the debts off. Time and time again this happens with vouchers. If you are worried, don't buy them

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I always find this amazing that the first thing that refuse to honour are gift cards that were bought and paid for with well intentioned cash, they are basically defrauding you, as they have had your money and refusing to honouring it when they still have good available that they can exchange for the gift card.

 

Caveat emptor

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Time and time again this happens with vouchers. If you are worried, don't buy them

 

^ This.

 

Quite simple really. HMV posted a trading warning to the stock exchange as recently as early December. Anyone buying vouchers recently from the likes of HMV deserve little or no sympathy IMO

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Tbf not everyone scours the stock exchange when buying a voucher for someone.

 

Neither did I - it was reported on mainstream news outlets. Even so, it doesn't take a genius to work out a poor business model when it's presented to you on a plate. I still buy gift vouchers on occasions but have consciously avoided HMV vouchers (and other prime suspects) for a couple of years now.

Edited by trousers
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Neither did I - it was reported on mainstream news outlets. Even so, it doesn't take a genius to work out a poor business model when it's presented to you on a plate. I still buy gift vouchers on occasions but have consciously avoided HMV vouchers (and other prime suspects) for a couple of years now.

 

Well I read the news in some form every day and I missed it so I imagine others did too. I'm not sure you can say it's entirely the fault of the consumer. My grandma for instance has been buying things like this for years and bought some for my young cousin this Christmas.

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What crime has he committed...? The company owe him money and he seized goods to the value (or thereabouts) of that money. Seems reasonable and law abiding to me....

 

Irish barack room law perhaps. Still took goods without paying for them, decent store security would have had him locked up in a windowless cellar for a month or so. Must be a bunch of right softies.

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Irish barack room law perhaps. Still took goods without paying for them, decent store security would have had him locked up in a windowless cellar for a month or so. Must be a bunch of right softies.

 

I was going to post on this yesterday, that I would just pick up goods to the value and walk out.

 

It would be an intresting case if it made court. Technically he had paid for them.

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I was going to post on this yesterday, that I would just pick up goods to the value and walk out.

 

It would be an intresting case if it made court. Technically he had paid for them.

 

not really he was €6 or so light. Anyway only 40€ for his grandson, stingy bastard.

Edited by Window Cleaner
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I was going to post on this yesterday, that I would just pick up goods to the value and walk out.

 

It would be an intresting case if it made court. Technically he had paid for them.

 

 

Technically he had lent HMV money and they had given him a credit note in return. Trouble for him is they went bust before he could redeem it.

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Technically he had lent HMV money and they had given him a credit note in return. Trouble for him is they went bust before he could redeem it.

 

But they have not gone bust yet if they had gone bust they would have closed the doors and shut up shop as per Jessops

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Woolworth

HMV

Comet

Julien Greeves

Blacks

La senza

Adams

hawkins bazzar

Barratts

Peacocks

Game

Clintons

Jessops

JJB

 

Pretty sure missed a few other big ones, guess still more to go. Looking grim out there for a few......

 

Unsurprising really, shops just can't pay people hundreds of £ per week to sell you stuff you can buy at home with a couple of clicks of a mouse or tapping on a tactile pad. Shops are finished for many products.

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But they have not gone bust yet if they had gone bust they would have closed the doors and shut up shop as per Jessops

 

Different administrators choose different courses of action depending on individual companies circumstances. Voucher holders are in the same line as other unsecured creditors

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There is a sex shop on Cambridge Road near Kingston. I wonder how shops like that make any money? They are always open but no one seems to go in or out. Why would someone go into some dodgy sex shop these days? All that stuff must be online?*

 

 

*bearsy/windows please confirm

 

But you can't feel it and try it on online. Got my ex some crotchless knickers in one of those places once, didn't try them on though. A disc is a disc, a book is a book but crotchless knickers are personal. You have to consider angles and all possible

drawbacks if you fancy a quicky in a slow elevator.

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Unsurprising really, shops just can't pay people hundreds of £ per week to sell you stuff you can buy at home with a couple of clicks of a mouse or tapping on a tactile pad. Shops are finished for many products.

 

Its a bit of a paradox though - as currently many people check out a product in a shop before buying it online cheaper. What happens once the shops close? as there are many things I wouldnt want to buy unseen.

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They have a little room in back where you can vvank off.

 

Edit: My mate said!

 

It's what's known in the trade as a bosh bosh.

 

The strange thing is, this sex shop is just there, on its own. It is kind of between homebase and B&Q. I guess it must be popular with serial killers and the type of people that read and then review 50 shades of grey.

 

Here it is, just in case any of you thought I was making it up. http://uk.nomao.com/14403352.html

 

57993779?w=530&h=420

 

If you look carefully you can see matalan in the background.

Edited by Tokyo-Saint
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Its a bit of a paradox though - as currently many people check out a product in a shop before buying it online cheaper. What happens once the shops close? as there are many things I wouldnt want to buy unseen.

 

Which is why I said for some products, like discs,DVDs,books. Evidently you ain't going to buy a pair of trews online unless it's from a site that you've already used and got a perfect fit of exactly the same product. I go through 5 or 6 pairs of running shoes a year, mainly because I like them not to be overused. I buy online from Wiggle, same brand, similar models, always fit perfectly and I save 100s of €s each year buy I wouldn't but a coat or a packet of pork chops. Depends on what it is and books,discs and DVDs are what they are.

Edited by Window Cleaner
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It's what's known in the trade as a bosh bosh.

 

The strange thing is, this sex shop is just there, on its own. It is kind of between homebase and B&Q. I guess it must be popular with serial killers and the type of people that read and then review 50 shades of grey.

 

Here it is, just in case any of you thought I was making it up. http://uk.nomao.com/14403352.html

 

57993779?w=530&h=420

 

If you look carefully you can see matalan in the background.

 

wouldn't go in there, looks really shady. We have erotic supermarkets in France now, right in front of your friendly neighbourhood hyper.

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Its a bit of a paradox though - as currently many people check out a product in a shop before buying it online cheaper. What happens once the shops close? as there are many things I wouldnt want to buy unseen.

 

Massive Tesco Extra/American style Walmart style shops for stuff you want to see/try first and then the rest on line. WH smiths and Travel agents have got to be up soon.

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