According to the news administrators are "very confident" of finding a buyer....i wonder if that happens whether they will reinstate the vouchers, i hope so my total about £80!!!!
According to the news administrators are "very confident" of finding a buyer....i wonder if that happens whether they will reinstate the vouchers, i hope so my total about £80!!!!
According to the news administrators are "very confident" of finding a buyer....i wonder if that happens whether they will reinstate the vouchers, i hope so my total about £80!!!!
Not a chance. Sorry.
We can only hope. Game reinstated theirs and so did Comet, whilst in administration, although they they went completely anyway.
I have rather more than £80. Been trying to spend on a laptop since before Christmas. I am daft as I knew it was going to happen, but hoped against hope that they'd actually get stock in to use them on. All tut over Christmas & new releases only started yesterday. Got what I wanted, but have wasted a lot if they are not accepted again.
I'm hearing they've had their worst day since records began
Can believe that. I used to buy new releases almost every week. Having been left with a load of vouchers, I now feel that anything I did go in and buy would effectively cost me double! Just can't justify that! Desperately sad for the staff, many of whom I have got to have a good chat with over the years. They don't deserve this.
"After all, industry figures suggest that £250m a year is wasted because these cards are unused."
Staggering!
NEVER buy a Gift Voucher.
This. When I was at Borders, who ran a gift card system in a relatively modest way, the total balance on gift cards that had not been used for at least 18 months was a staggeringly high amount. If that's typical, and no reason to think it isn't across other retailers, then it's a win-win for them. Cash up front and a good chance that you'll never have to supply 15-20% of the value, in which case there's not even any VAT to pay on that sale.
If they are bought out then the vouchers will be valid again. It happened at Game. The new company will try and keep as many customers returning as possible. The effect of not accepting the vouchers would drive people away and prevent future sales.
If they are bought out then the vouchers will be valid again. It happened at Game. The new company will try and keep as many customers returning as possible. The effect of not accepting the vouchers would drive people away and prevent future sales.
Not sure about this - the unspent vouchers will effectively be a massive liability for new owners. Good chance it might go through a pre-pack, in which case all bets are off and it will start again (a la Pompey) in same outward form but effectively a completely different entity.
Feel sure there must be a place for at least some of their stores - they surely can't all be unprofitable. But until the playing field is levelled with regards to cuckoos like amazon, they have very little chance of survival. Every time I think about this, the solution of a corporate turnover tax for sales made in the UK (whether via internet or at retail) makes so much logical sense and would bring Google/Amazon into the tax net on the basis of the business they do in the UK, even if domiciled in Luxemburg or wherever. If the government can't introduce this quickly and sensibly, there really is no hope for much of the remains of the high street.
Anyway, I think we should invade Luxemburg. Stupid little no-mark blob of a place, it'd be ours in twenty minutes.
I wonder how many retail outlets actually own the property / land the business is on, surely they can't all be rented space from landlords or we are screwed?
A colleague specialises in looking after insolvency practitioners. She'd been told a big name was on the edge late last week. When she spoke with her contact today, she was told it wasn't HMV they were talking about. Sounds like another household name is on the way out!
I wonder how many retail outlets actually own the property / land the business is on, surely they can't all be rented space from landlords or we are screwed?
In my experience, basically none except a few local mum and dad type stores. Most commercial retail space is owned by insurance companies or specialist property companies, such as Land Securities.
I wonder how many retail outlets actually own the property / land the business is on, surely they can't all be rented space from landlords or we are screwed?
In my experience, basically none except a few local mum and dad type stores. Most commercial retail space is owned by insurance companies or specialist property companies, such as Land Securities.
So if they take a nose dive they are screwed basically.
Yes. Borders was able to sell 5 stores to New Look to generate funds about 4 months before they finally went under, but it was the leases that had value, the properties themselves were owned by landlords. The only exception I can think of to this general rule is supermarkets, who manage their own land banks and build on them to their own specification, though a good number of their smaller sites will still be leased.
I wonder how many retail outlets actually own the property / land the business is on, surely they can't all be rented space from landlords or we are screwed?
In my experience, basically none except a few local mum and dad type stores. Most commercial retail space is owned by insurance companies or specialist property companies, such as Land Securities.
True. Most retail property is owned by property investors - which includes insurance companies and pension funds. Some of the really big boys might own the freehold of some of their units, but it would probably be the exception rather than the norm.
Do you know where HMV recruited CEO Trevor Moore from last year?
Jessops!
You couldn't make it up could you?
And Non-Executive Director David Adams is the former Chairman of Jessops. You all thought that football managers were the only ones on the failure merry-go-round!!!!
Do you know where HMV recruited CEO Trevor Moore from last year?
Jessops!
You couldn't make it up could you?
And Non-Executive Director David Adams is the former Chairman of Jessops. You all thought that football managers were the only ones on the failure merry-go-round!!!!
No I didn't, been very aware of this particular gravy train for many years...
Amazon are a part of the problem and will also paly a major role in book stores closing down. I Wouldn't buy anything from amazon.
I only (belatedly) got to page 2 before needing to comment. Amazon are not part of any problem in the high street - it is just the way it is and if anything they have brought costs down for consumers.
Who has bought a Sony Walkman lately / how many people buy holidays in travel agents / how many fewer people buy newspapers rather than view them online. Progress is progress whether you want it or not.
As an aside though (and sorry if mentioned before) the CEO of HMV was at Jessops just a year ago. Dinosaurs rule(d).
Do you know where HMV recruited CEO Trevor Moore from last year?
Jessops!
You couldn't make it up could you?
And Non-Executive Director David Adams is the former Chairman of Jessops. You all thought that football managers were the only ones on the failure merry-go-round!!!!
Not to worry because they're sure to get other jobs, and bloody well paid ones at that because the justification for the ridiculously inequitable pay scales that almost all businesses (inc. charities, govt departs etc) is that you have to pay competitive salaries to get the best. It's high time people started to see through this shit.
Comments
I have rather more than £80. Been trying to spend on a laptop since before Christmas. I am daft as I knew it was going to happen, but hoped against hope that they'd actually get stock in to use them on. All tut over Christmas & new releases only started yesterday. Got what I wanted, but have wasted a lot if they are not accepted again.
Feel sure there must be a place for at least some of their stores - they surely can't all be unprofitable. But until the playing field is levelled with regards to cuckoos like amazon, they have very little chance of survival. Every time I think about this, the solution of a corporate turnover tax for sales made in the UK (whether via internet or at retail) makes so much logical sense and would bring Google/Amazon into the tax net on the basis of the business they do in the UK, even if domiciled in Luxemburg or wherever. If the government can't introduce this quickly and sensibly, there really is no hope for much of the remains of the high street.
Anyway, I think we should invade Luxemburg. Stupid little no-mark blob of a place, it'd be ours in twenty minutes.
Went past one on the way home today , thought how much longer can they go on?
Went past one on the way home today , thought how much longer can they go on?
They now do online and postal DVDs/games.
The only exception I can think of to this general rule is supermarkets, who manage their own land banks and build on them to their own specification, though a good number of their smaller sites will still be leased.
Jessops!
You couldn't make it up could you?
Who has bought a Sony Walkman lately / how many people buy holidays in travel agents / how many fewer people buy newspapers rather than view them online. Progress is progress whether you want it or not.
As an aside though (and sorry if mentioned before) the CEO of HMV was at Jessops just a year ago. Dinosaurs rule(d).