HMV Closing Up To 100 Shops This Week

The company has recently went into administration, causing anger and despair among both the customers and its own staff. But new shut-downs are yet to come.

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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.

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30 comments sorted by best / new / date

    ApsassinsCreed
    I wish you guys would specify that it's HMV UK that's going out of business. I work for HMV Canada and we're not, yet sooooo many people have come into my store in Edmonton asking why we aren't having a closing sale.. -__-
    LedZeppelin14
    Hahaha, I'm over at the Mill Woods location in Edmonton. I've been getting asked the same thing like every shift.
    stunly
    I refuse to ever buy a digital song/album, you all may think that is a bit drastic but some of the main reasons for HMV's downfall and CD sales in general, is because the vast majority of people don't value music (because in digital form it doesn't really "exist") and that music is becoming more and more disposable. Support CDs people!
    Mr. Stripe
    Couldn't have said it any better. Trying to explain why CD's are so awesome to someone who just downloads his music is one of the hardest things to do.
    VikingMiguel
    We all saw this coming. Give it 10 years and all music will be digital, and CDs will be a cheap and cheerful past time, much like how vinyl is today (Unless you're a DJ)
    Kepulix
    I wouldn't call vinyls "a cheap" past time.
    mckenna64
    Unless you buy used, new vinyl is twice as expensive as the same CD usually. I still think CDs will be around and take a decent percentage of market share in 10 years. Digital still hasn't taken over and it will be a couple of years until it overtakes CD market share, and even then CDs will still have a rather large percentage of sales. Of course if music stores die, then that will speed up the process, as the only way of obtaining music will be online so you might as well download once we get lossless downloads as standard. I will stick with CDs for as long as I can though, CDs are a flexible medium that can be transferred to multiple devices, have lossless back ups on my computer, and have the physical CD/artwork.
    apartzero
    What about food? What we need is digital food that can provide nutrition. Need food, man. People starving. People wasting food. Need some food torrents and shit. And digital shit. Wonder how that is gonna be like. But hey, if music is gonna be digital, might as well make food digital. Digital food by 2020!
    Kueller917
    I'd rather just buy online anyways. Prices are usually cheaper anyways. Only time I buy albums in a store nowadays are when a local shop has it.
    Nameless742
    High street stores are just becoming redundant. It's sad to see for those who remember a time without internet shopping. It's an inevitable end.
    Battery Chicken
    I remember a time without internet shopping...from memory it sucked. High prices, pissy store attendants, having to order stuff in because they never had what you wanted in stock, then those orders taking up to two months and a 50% chance of it being the CD you actually ordered and not Bing Crosby's Christmas Special. I for one am glad to be shot of them.
    SecondChance360
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    bifteksupernova
    I'm glad the Canadian stores haven't been hit. I still frequent hmv and have built up quite the cd collection over the years. I'm sure in a decade or two it will go the way of the tape or the record as some have said, so ill enjoy it while I can. As for tapes, me and my dad developed a huge musical bond through his old band tapes, I hope to do the same with my kids someday too. I can see the nostalgic value to him and I believe CDs will hold that same value for many of us in the future
    derek8520
    Out of curiosity, does anyone know how many shops there are in total in the UK?
    thingstodo
    Stunly, I get where you're coming from and I appreciate your stance on digital music, but IMO music does indeed "exist" in both digital and physical formats. 10 yrs ago all my music purchases came from HMV. Nowadays, I find it a lot less time consuming, and cheaper, to purchase an album through iTunes and then go torrent an HQ version of the album, or to buy a physical CD direct from either the label or band's website. Buying straight from the band sometimes comes with perks like limited edition merch/clothing which just simply isn't packaged together at an HMV location. Not to mention the price of just the CD tends to be cheaper, as well. I purchase music for the music. It truly doesn't bother me that I don't have a physical item in my hand, since the booklet/artwork looks identical in my hand as it does on my laptop. Simply saying that I have a physical copy doesn't entertain me whatsoever.
    stickman31
    On one hand, I'm happy to see a business which blames piracy for loss of sales (when it's not)and other stupid things crash and burn. But on the other hand, it's still a business and there are some good people working there no matter how high up in the chain they are, and they're now losing their jobs and that saddens me. Here's to hoping they'll be able to find a job and keep moving along.
    link no1
    Well you can't say piracy has nothing to do with it, that is a pretty stupid remark. Though I do say the high prices where more of a nail in the coffin.
    third(-)eye
    Piracy's been around since the invention of tape recorders; if that were the case then they'd have died out long ago.
    fatgleeson
    thats naive, it is so much easier to get music for free now than using tapes
    third(-)eye
    It was always plenty easy ever since radio, ever since recorders, ever since the library, and ever since your friends started letting you "borrow" CD's. I don't think there's significantly more people doing it now than were doing it then. The only difference now is that you can go to Pirate Bay and see for yourself how many people are seeding something whereas in the past there was no way to keep record; piracy wasn't as "under the radar", so to speak. I'm not saying it's not a contributing factor, but it's not THE contributing factor. The main contributing factor is iTunes, which people use far more frequently than PB.