As we all know, things haven't been going too well for the HMV
lately. The company has recently went into administration
after the rejection of a £300 million bailout loan, causing anger and despair among both the customers
and its own staff.
Things even went far enough for one of the employees to hijack the official HMV Twitter
account and publicly express his outrage over the current situation.
In the latest news, the company has announced the shut-down of somewhere between 60 and 100 stores during the current week. This will cause the loss of about 1,500 jobs with the exact location of stores set for closing still being unknown. A source close to HMV told The Telegraph that administrator Deloitte and the Hilco company believe that the number of stores needs to be cut down to somewhere between 120 and 160 in order for HMV to become viable. The Hilco has recently bought £176 million worth of company's debt, giving the HMV a glimpse of hope for it's rescue.
Company's former social media planner Poppy Rose Cleere
has recently stood up about the hijack of the official Twitter account, revealing herself as the responsible one. She has apologized to HMV for her actions but also added that she simply felt like someone had to speak, as well as "show the power of Social Media to those who refused to be educated".
Things are still not looking good for HMV. Can we now finally say that the days of physical album releases are gone or do you still think that the CDs stand a chance? Post your thoughts in the comments section below.