Tag Archives: hmv

HMV buyer Hilco is said to be cutting 400 jobs following its recent acquisition of the brand. It follows hope that all 2,500 jobs were to be saved across the brand’s 141 UK stores last week.

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HMV will reportedly meet with UK game publishers this week, in a bid to secure a place for gaming in the retailer’s revised strategy. It comes after HMV administrators Deloitte made most of the company’s game arm redundant, casting doubt on the matter.

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HMV has been officially rescued by buyer Hilco. The retail brand will now be headed up by former Steinhoff Group CEO Ian Topping.

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Teetering UK retail chain HMV has reportedly been saved by a last-minute buy-out.

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MCV magazine is apparently reporting that last week sales of Wii U systems rose 125 percent. The last two weeks have been eventful for the console, as it saw the release of Monster Hunter 3 Ultimate, and on Monday HMV began clearing out its stock by offering the Premium Wii U sets with Nintendo Land and ZombiU bundled for £199 — £45 cheaper than the nearest competitor.

Thanks, Nintendo Life

UK supermarket chain ASDA is rumoured to be in talks with HMV administrators Deloitte to put in a bid for the troubled games, music and movies retailer.

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HMV and administrators Deloitte have today announced that they close another 37 stores amid efforts to restructure the business.

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HMV has reached an agreement with suppliers, which will allow it to sell new games and other media in its remaining stores. “We are pleased that these agreements are now in place, allowing us to replenish stock and bring in new titles,” joint administrator Nick Edwards told MCV. “The support of suppliers over the past few weeks has been significant and these agreements demonstrate their ongoing commitment to supporting HMV.”

The administrator also said it feels positive that a buyer will be found for HMV.

HMV’s restructuring with administrators Deloitte has seen its games division whittled down to just two games buyers. The group’s recent round of lay-offs and store closures suggests a severe down-sizing of HMV’s games business.

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HMV has closed its 16 stores in Ireland, which has resulted in the redundancy 300 jobs. The closures were the result of the group not being able to find a buyer. A statement provided to Irish Examiner stating that sure to various factors, the stores were “loss making and it was not possible to attract a purchaser.” The stores had temporarily been closed while a buyer was sought, but as of today are now closed permanently. Thanks, GI International.

Michael Pachter has placed the UK games retail sector as ‘a joke’, in relation to companies pricing games lower than the competition in bid to claim the high street.

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HMV has dismissed 60 staffers at its headquarters, including its CEO Trevor Moore and marketing director Mark Hodgkinson. According to sources speaking with MCV, the firm is now down to a “skeleton crew” with only two or so still employed. Those affected by the redundancies include 45 from the firm’s central head office in London, and 15 from offices around the country. It was announced by the company’s bankruptcy administrator Deloitte yesterday that 66 store would be closed, affecting 930 employees.

HMV has confirmed it will close 66 UK stores, and has published a full list of sites to be shuttered over the next six weeks.

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HMV is expected to announce that it will shutter 66 stores across the UK in the next six weeks. An official statement is to be expected later today.

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HMV social media intern Poppy Rose has said she’s not at all sorry about using HMV’s official Twitter feed to detail its lay-off process last week.

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HMV’s administrator Deloitte is said to be closing 100 UK stores amid a phase of restructuring the business. If true, the move would result in the loss of some 1,500 jobs.

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HMV staff has been cut by 190, which in turn caused a few affected to go rogue and hack into the retailers Twitter account.

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HMV may have been bailed-out by buyer Hilco, but fresh reports surfacing this morning suggest the latter may close up to half of the chain’s 223 UK stores.

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The high street is in disarray right now with Blockbuster, HMV and Game experiencing turbulent times. VG247′s Dave Cook visits his home city’s remaining indie game stores and asks why they’ve survived.

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Struggling retailer HMV has been rescued by HMV Canada owner Hilco, according to a fresh report. But don’t get too excited as the deal may still fall apart, say sources close to the matter.

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