«Breaking News» HMV brings in administrators after poor Christmas sales

The collapse of HMV into administration is the latest in a long line of corporate casualties in 2018.

The music retailer has faced pressures including 'weakening consumer confidence, rising costs and business rates pressures' and joins a list of those calling in corporate undertakers, restructuring or shutting up shop for good.

HMV will continue as a going concern and all options remain open for the business, KPMG said. 

HMV has gone into administration after struggling in the build-up to Christmas

One of the bigger causalities of this year was Toys R Us, which entered into administration in February.

The toy chain collapsed and insolvency specialist Moorfields sold off off the retailer's stock at knockdown prices.

All Toys R Us's 75 stores were closed by April 24, with 2,054 employees made redundant.

Electronics chain Maplin went bust on the same day as Toys R Us and all its stores ceased trading in June.

Poundworld disappeared from the high street in August after its administrators announced the chain's final set of store closures.

The discount retailer fell into administration on June 11, putting more than 5,100 jobs at risk across its 335-store portfolio. 

Store faces crisis after nearly 100 years on the high street 

HMV stands for His Master's Voice, the name of an 1898 painting of a dog called Nipper listening to a cylinder phonograph.

Rights to the image were bought the following year by the Gramophone Company, who asked the artist to repaint the work with a wind-up gramophone.

The Gramophone Company opened the first HMV store on Oxford Street, central London, on 20 July 1921.

It later merged with the Columbia Gramophone Company in 1931, to become EMI. They opened HMV stores across the UK and by 1977 had 39 stores stretching from Glasgow to Brighton.

The label opened a store in Oxford Street in the 1920s. It is pictured in 1955

The Oxford Street store played an important part in helping the Beatles land their record deal - setting them on the path to becoming the biggest band in history.

In February 1962, the band had just been rejected by Decca Records, who famously said that 'guitar groups are on the way out'.

Undeterred, manager Brian Epstein paid a visit to HMV to transfer the band's demo tape to disc - and the engineer who helped him was so impressed he called a music publisher down to hear the record.

The publisher got in touch with George Martin, who was quick to sign up the band and later produced their legendary albums.

HMV Media Group broke away from EMI in 1998.

Nipper, the subject of the HMV logo, is buried in Kingston upon Thames in a small park surrounded by magnolia trees. A small road nearby was renamed Nipper Alley in his memory in 2010.

Which high street retailers have closed shops in 2018? 

The year has seen a bloodbath of Britain's high streets - with many of the nation's retailers shutting stores and axing jobs.

Here are some of the big name retailers which have lost out as they face fierce competition from the rise of online shopping

Carpetright - The carpet retailer is closing 92 stores across the UK. These closures represent nearly a quarter of all UK Carpetright stores.

Toys R' Us - The UK's largest toy shop went into administration in February 201, leading to an estimated 2,000 redundancies.

House of Fraser - The department store chain was on the verge of heading into administration but was rescued at the eleventh hour by Sports Direct owner Mike Ashley.

Maplin - The electronics giant has gone bust, closing shops across the country and putting thousands of jobs at risk.

Mothercare - The baby and toddler chain is closing 60 shops across the UK putting up to 900 jobs at risk.

Poundworld - Poundworld announced it was going into administration on June 11 after talks with potential buyer R Capital broke down, putting 5,100 jobs at risk.

Homebase - The DIY chain set to close 42 DIY outlets shut, putting around 1,500 jobs at risk.

Marks & Spencer - The retailer announced in May it plans to close 100 stores by 2022, putting hundreds of jobs at risk. In August stores in Northampton, Falkirk, Kettering, Newmarket, New Mersey Speke, Stockton and Walsall all ceased trading.

 

Link hienalouca.com

https://hienalouca.com/2018/12/29/hmv-brings-in-administrators-after-poor-christmas-sales/
Main photo article The collapse of HMV into administration is the latest in a long line of corporate casualties in 2018.
The music retailer has faced pressures including ‘weakening consumer confidence, rising costs and business rates pressures’ and joins a list of those calling in corporate...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves Online news HienaLouca





https://i.dailymail.co.uk/1s/2018/12/28/12/7899014-6535043-image-m-26_1546001086836.jpg