HMV To Close 60 UK Stores In 2011

HMV is to close 60 of its UK stores over the next 12 months, the company has confirmed.

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HMV is to close 60 of its UK stores over the next 12 months, the company has confirmed.

The music retailer has seen shares fall drastically recently, with Christmas sales also down 10 percent. By closing the stores, it is hoped that the company will be able to control its costs more efficiently, reports BBC News.

The move comes as a result of "challenging trading conditions" and the recent bad weather, according to the company, although chief executive Simon Fox remained positive about HMV's future.

"The pace of change in the markets in which we operate underlines the urgency with which we must continue to transform this business," Fox explained.

High street competitors including Woolworths and Zavvi have both ceased trading in recent years.

Thanks for the report to Nme.com.

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    adj209
    worton wrote: Is this the Vinyl countdown?
    Countdown to extinction
    M.B.MetalTabber
    jamesbcfc wrote: They dont need 3 stores within 0.25 of a mile of each other in Birmingham city centre!! The one in the palisades is hardly used....
    too true. in manchester city centre we had 3 within 5 minutes of each other....now we have 2....xD
    andyscoot
    oc616 wrote: You know what's funny, people who clearly NEVER worked for a company like this saying "they charge crazy prices" and shit...whilst I agree 15 is excessive, do you know how much they have to buy those in for? a 9.99 CD supply cost is 9.12...that's 87p profit and even then unless you sell about 60 you STILL make a loss on upstock cost. The warehouses that supply places like this are charging the RIDICULOUS prices and it's the opinion of a few cheapskates who don't want to part with their hard earned cash and who eventually follow the path of "oh I'll just download it". The independent record stores will also die VERY shortly after this unwieldy behemoth does because (and I feel like a relic now) the instantaneous, trans-fat "anything with a click right now" society we have bred.
    Funny how I can buy it in another shop for nearly half the price, and also, how it can be priced one thing in one shop and another in a different shop. HMV are rip offs, deal with it.
    ashers67
    I live in Reading and there's 2 within a few mins walk of each other too. The not in the shopping centre was never so popular and would make sense to close down, but they expanded it and have an upstairs which is a gamerbase where you can pay to play games on consoles online or offline. So not sure if they would close that down as it only opened a year or so ago, but can't see them selling the better one. Who knows...
    oc616
    Oh and also if 87p seems like a staggering profit to you, that's LESS than tesco makes profit on coke cola and even their own brands!
    PowerStruggle
    and FYI, I do buy all of my music so I don't feel any guilt for them closing. Still a good riddance. I do feel bad for the staff though.
    PowerStruggle
    Good. I'm shocked that this hasn't happened earlier. Whatever your opinion of the band, there has been one single CD of Porcupine Tree in my local HMV for over a year now. The Nil Recurring EP - that is 4 tracks, for 18 That's just off the top of my head. Absolute ripoff store, it's staggering.
    ItsDropDNick
    I couldn't care less. HMV is a disgrace. Some of the stores don't even have a metal section.....
    oc616
    You know what's funny, people who clearly NEVER worked for a company like this saying "they charge crazy prices" and shit...whilst I agree 15 is excessive, do you know how much they have to buy those in for? a 9.99 CD supply cost is 9.12...that's 87p profit and even then unless you sell about 60 you STILL make a loss on upstock cost. The warehouses that supply places like this are charging the RIDICULOUS prices and it's the opinion of a few cheapskates who don't want to part with their hard earned cash and who eventually follow the path of "oh I'll just download it". The independent record stores will also die VERY shortly after this unwieldy behemoth does because (and I feel like a relic now) the instantaneous, trans-fat "anything with a click right now" society we have bred.
    doctordee955
    Funny reading about everyone having two or three close in their town, that's what it was like here in Northern Ireland about three years ago, then HMV sold some of their stores to Zavvi and we know they have disappeared, now there is at least twenty five to thirty miles between the stores, hopefully not close more as they are no other decent music stores around these parts and the same independant stores have all disappeared.
    Sladey
    jamesbcfc wrote: They dont need 3 stores within 0.25 of a mile of each other in Birmingham city centre!! The one in the palisades is hardly used....
    So true! Brilliant way to help the recession HMV.. *ahem*
    doive
    jamesbcfc wrote: They dont need 3 stores within 0.25 of a mile of each other in Birmingham city centre!! The one in the palisades is hardly used....
    Their major problem is that they bought out other companies a few years ago without properly planning their stores and footfall. Birmingham is big enough population wise to support 2 hmv stores - so when they brought out (can't remember who) about 10 years ago they saw 2 birmingham stores and thought it was fine. They just never bothered to notice the fact that the two were next door...
    StarsFallForMJ
    I dont know how Id survive without HMV! Ive bought 4CDs from ther in the past week...and a DVD! Yes there are cheaper places, but I just like shopping there!...I would actually die of withdrawal symptoms! ....darn download generation. (granted Im 16 and technically part of said generation....but I dont like iTunes, and other sites!!, so...there.)
    ilovepancakez
    James116 wrote: beatreebor : same in essex, in southend there are 2 within walking distance! Where's the 2nd one in Essex? I know the one in the Victoria plaza thingy.
    The other one was on the road off the highstreet to get to PMT, but that one closed down over a year ago anyway.
    shelovemyguitar
    iron_maiden93 wrote: Pagan_Poetry wrote: I think this is a bit of a shame. I don't live in the UK so I have no idea how many there are, but apparently there are very many. In Canada, there are quite a few but within reasonable distance. I still buy albums, and I absolutely refuse to buy any on itunes. Paying for just digital songs? I'd rather have an album to pop into my car or boombox, have wonderful album artwork to look at, and have something physical to put on a shelf. That's far more rewarding and official than something on an itunes library. I buy every movie and album I like, so if the nearest hmv closed down I'd be quite upset. There's still best buy and future shop, which isn't too bad for movies but for music? Not a good selection at all. Where in Canada do you live? Out here in Nova Scotia we have nothing, I'm forced to shop for cd's at Futureshop, which is cutting the section down mind you, and Wal-mart. The sad part is the majority of people I know who listen to mainstream music don't even bother to buy a CD, and that's all they stock. Luckily I just got a few new ones for christmas and i'll have some on pre-order come in the next month or two. ...I just love new cd's.
    I live in Quebec and I know 2 or 3 I think. There could be a lot more if you ask me.
    Colter
    Yea the HMV I go to suuuuckks....Its twenty bucks for a CD thats ****ing ludacris especially for a metal cd
    iron_maiden93
    Pagan_Poetry wrote: I think this is a bit of a shame. I don't live in the UK so I have no idea how many there are, but apparently there are very many. In Canada, there are quite a few but within reasonable distance. I still buy albums, and I absolutely refuse to buy any on itunes. Paying for just digital songs? I'd rather have an album to pop into my car or boombox, have wonderful album artwork to look at, and have something physical to put on a shelf. That's far more rewarding and official than something on an itunes library. I buy every movie and album I like, so if the nearest hmv closed down I'd be quite upset. There's still best buy and future shop, which isn't too bad for movies but for music? Not a good selection at all.
    Where in Canada do you live? Out here in Nova Scotia we have nothing, I'm forced to shop for cd's at Futureshop, which is cutting the section down mind you, and Wal-mart. The sad part is the majority of people I know who listen to mainstream music don't even bother to buy a CD, and that's all they stock. Luckily I just got a few new ones for christmas and i'll have some on pre-order come in the next month or two. ...I just love new cd's.
    RAGEAHAULICA
    the only reasons they're closing is because the general population of c***s are downloading illegally, if you download your killing music basically unless your paying for it, but think about it if your in a band like myself and want to release an album hopefully one day the way to go now isnt a viynal or a CD its this ballocks internet streaming shit. i will still buy cds in hard copy and hate the way the music industrie is going because of the internet
    Darkshade40
    The thing is you can only get mostly mainstream stuff in HMV, none of your obscure albums. There not what you call a dedicated music store anymore. There own diversification into other areas (Video Games, Clothing etx) is there downfall. They've lost what was their main drawing factor.
    generic-quote
    i have to admit im sad to see them go, whenever im dragged out shopping by the missus hmv was always the first port of call for me, i dont download music cos i find it pointless, id much rather see my music in a cd tower than look at files on a computer, but hmv was becoming more and more of a joke, the music there is ridiculously expensive compared to play.com and recently they removed the metal/rock section in my local one, making me look for a different place to shop, sadly there just doesnt seem to be anything better out there, which is a shame imo
    James116
    beatreebor : same in essex, in southend there are 2 within walking distance!
    Where's the 2nd one in Essex? I know the one in the Victoria plaza thingy.
    Pagan_Poetry
    I think this is a bit of a shame. I don't live in the UK so I have no idea how many there are, but apparently there are very many. In Canada, there are quite a few but within reasonable distance. I still buy albums, and I absolutely refuse to buy any on itunes. Paying for just digital songs? I'd rather have an album to pop into my car or boombox, have wonderful album artwork to look at, and have something physical to put on a shelf. That's far more rewarding and official than something on an itunes library. I buy every movie and album I like, so if the nearest hmv closed down I'd be quite upset. There's still best buy and future shop, which isn't too bad for movies but for music? Not a good selection at all.
    GezzyDiversion
    They are expensive, independent record shops are cheaper. I saw The Wall by Pink Floyd on double disc CD which is 7.99 on Amazon UK, it was priced at 35 in HMV Swindon one week then 5 the next then it was 42 the week after.
    harpcicle
    I only go in there for DVDs and Games, the CDs are just a big rip-off. I don't see how a Taproot CD can cost 13 to 15 quid when they're not really that well known nowadays. I'd rather find it online and many others for a much cheaper price
    drawnacrol
    23 euro for a CD, nobody is going to pay that, but 5 euro for a CD, I'd pick up 4+ a week
    MegadethFan18
    There is a big one at the start of Princes Street Edinburgh and a small one at the end. I hope they close the small one it sucks. I used to go HMV alot but after a CD has been out a while they push the price up to like 16.
    DecaPodge
    They should close the multipled stores and spread them out, because for example we don't have one here in Macclesfield, the nearest one would be Stockport or Manchester afaik, why have more than one in the same area? I know they get busy, but..
    Noverion
    In Nottingham there are two really close to each other. I'm shocked by this though, there is no time i've been in any HMV when it hasn't been absolutely heaving with people! I love it, buy almost all my CD's there.
    SilverSpurs616
    Meh, I use iTunes for all my music and Amazon for DVD's and games etc. (there aren't any decent stores in my town). The closest HMV is in Cardiff, an hours train journey and the music they stock has been getting more and more mainstream- anything that isn't in the charts isn't likely to be stocked anymore. So in short, **** 'em
    dweb23
    surely the dundee one will stay open, theres no other large music retailer there
    Holoogamooga
    But they should put a new one in Grantham, because the stores currently there only carry what's on the charts. Granted, I'm living back in the US now, so it doesn't matter much. I just know I spent somewhere between $250 and $300 at HMV in the last four months.
    archerygenious
    Freaking Out wrote: They are a rip off anyways.
    This And I've refused to buy from them even since they ID'd me for Youth In Revolt, a cert. 15 film, and I usually get mistaken for a 20-year-old uni student, and the woman at the till had the nerve to call me "sir" and thought it was suspicious that I didn't have a credit card at 17 and thus refused to sell me the film :@
    grimms
    beatreebor wrote: same in essex, in southend there are 2 within walking distance!
    Its true!
    jamesbcfc
    They dont need 3 stores within 0.25 of a mile of each other in Birmingham city centre!! The one in the palisades is hardly used....
    JackalUK
    I can almost guarantee one of them will be Newports, because half of the City Centre's shops have closed up and the trade is dying here as everyone goes to Cardiff.
    loganzilla
    They'd get way more business if the cd where less expenive! (eventhough I still buy ALOT of cd from HMV) but HMV cant sell their shit for that much less and stay in bussiness unless the record compaines stop taking so much royalty from the artists and supply thier cds for so much... The companies are all basically killing themselves...
    DannyCoates
    i agree that some of the CDs are way overpriced, but the 2 for 10 is a great deal personally. And the experience of looking through the CDs is much better than online. and i doubt Stockport will close, that place is usually rammed, and the nearest one is manchester.
    kinslayerSOA
    Pagan_Poetry : I think this is a bit of a shame. I don't live in the UK so I have no idea how many there are, but apparently there are very many. In Canada, there are quite a few but within reasonable distance. I still buy albums, and I absolutely refuse to buy any on itunes. Paying for just digital songs? I'd rather have an album to pop into my car or boombox, have wonderful album artwork to look at, and have something physical to put on a shelf. That's far more rewarding and official than something on an itunes library. I buy every movie and album I like, so if the nearest hmv closed down I'd be quite upset. There's still best buy and future shop, which isn't too bad for movies but for music? Not a good selection at all.
    Agreed. A CD tower or shelf is a hell of a lot more rewarding than a hard disk full of songs.
    RikHead
    they can get rid of the one in wigan cos its jus full off "at the moment" stuff and get rid off the smaller 1 they have in manchester 5 min or less away from the bigger one, Ediots