All HMV Stores To Be Sold Next Week

artist: HMV date: 03/19/2013 category: industry news
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All HMV Stores To Be Sold Next Week
The HMV story is coming to a close, with its administrator confirming that all UK stores will be sold by March 25. HMV has been a landmark on the UK high street for over 100 years and remains the only nationwide music retailer, but in January announced that it would be forced into administration because it owed £347 million ($523 million) in debts, putting 4, 000 jobs at risk. There's still a chance it will survive as a music store. HMV Canada, which is a separate company and has turn the Canada branch of HMV into a successful chain despite the recession, has put in a bid and will attempt to revive the music chain. Other bidders include supermarket chains, with one supermarket already snapping up six stores in premium locations. Many dedicated HMV staff have lost their jobs at the company. At one point, an angry staff member who was among 60 being fired decided to hijack the official HMV twitter account to tell over 66,000 followers about their dismissal in real-time. At one point they tweeted "Just overheard our Marketing Director ask 'How do I shut down Twitter?'" Do you think a music retailer like HMV can survive with the right leadership, or is it too late to compete in a market of digital web stores and mobile devices? Let us know what you think in the comments.
More HMV news:
+ HMV to Return to Flagship Store on Oxford Street Industry News 08/08/2013
+ HMV Reveal Plans to Open 'New' Store on London's Oxford Street Industry News 08/06/2013
+ HMV to Relaunch with Streaming Service Industry News 05/30/2013
+ Supermarket Starts Buying HMV Stores Industry News 02/28/2013
+ Elton John Helping To Save The HMV Industry News 02/21/2013
+ HMV Closing Up To 100 Shops This Week Industry News 02/05/2013
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