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Old 15th January 2013, 10:48 AM   #1
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Default End of an Era: HMV on the verge of closing down

This news may not have much impact outside of the commonwealth areas - iconic music retailer HMV (His Master's Voice) is close to bankruptcy and will go into administration today:

U.K. Retailer HMV Enters Administration - WSJ.com

During the height of the vinyl era, HMV dominated the retail music space in many commonwealth nations, including India. The irony is that Vinyl is making a small comeback, but HMV may not recover.
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Old 15th January 2013, 11:17 AM   #2
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If they stocked vinyl again*, I think they may stand a chance of a comeback. I know a lot of teenagers that have record decks, and others that think its very cool that I have such things. I think their only hope is to get vinyl to the masses again.

*and some fairly-cheap-but-usable turntables
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Old 15th January 2013, 11:53 AM   #3
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yes!! at last an end to the GREEDY GIANT...
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Old 15th January 2013, 08:44 PM   #4
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Going strong in Canada ... exceeded sales targets for 2012.

Of course, HMV (UK) sold HMV (Canada) to Hilco (another British firm) for $C3.2 million about a year ago, because they needed cash.

Hilco seems to be doing quite nicely with the purchase. They continue to sell music at retail, as for the rest it can be summed up like this:
"We quit selling stuff that didn't make money, like iPod cables, and started selling stuff that does, like Rock 'n' Roll T-shirts."

They initially downsized by about 10 stores to 113 store locations (about half what HMV has in the UK) and are now looking to increase the number of stores.

Not entirely sure there is no common interest outside "the Commonwealth"; HMV didn't open a store in Canada until the 1980's, the same time they opened locations in the US & Japan. The US Stores were owned and operated by HMV Canada. They sold the Japanese operations about 5 years ago and it is also still in business.
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Last edited by Johnny2Bad; 15th January 2013 at 09:13 PM.
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