HMV Stores To Become Supermarkets?

artist: HMV date: 01/27/2013 category: industry news
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HMV Stores To Become Supermarkets?
Half of HMV stores across the UK could become supermarkets as a way out of its huge debts, giving hope that the remaining stores will live on. The company, Britain's leading high street music retailer, went into administration this month amid competition from online alternatives like iTunes and Amazon. It may sell half its 230 stores to three leading supermarket chains including Tesco who are all interested in snapping up new outlets in prime shopping centers at a discount price, according to NME. There is hope that the major labels will offer discounted CDs and DVDs to HMV ironically, because the majors worry that supermarkets will slash the prices of singles and albums so much that it will cause permanent damage to the music industry. Customers who bought or received HMV gift cards over the Christmas holiday were furious when they found out the company has stopped accepting them. If you have been affected, financial advice websites say you can claim the money back if you bought it by credit card, and some supermarkets will refund the card if you bought it in one of their stores. Would you prefer half the HMV stores to shut if it means some will live on? Let us know in the comments.
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