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HMV Saved By Bank Rescue Package

Author:
Jonathan Lester
Category:
News
Tags:
Financials, HMV

HMV Saved By Bank Rescue Package

It's no secret that HMV have been on the ropes throughout 2011, and after rumours of scaling back their videogames selection surfaced last week, things were looking bleak for the high street retailer. However, strong support from music and movie suppliers have encouraged the banking syndicate behind the company to give them "more financial headroom" and waive some of the more stringent covenant tests on the indebted chain's borrowings. HMV predicts that they'll be able to reduce their debt by 50% over the next three years, making them financially secure in the short term future.

But I've only got one question left to ask. If HMV is in so much financial trouble, then why are there always such massive queues every time I go into Southend high street? It's enough to make you want to shop online instead... oh. [MCV]

Add a comment5 comments
cicobuff  Jan. 21, 2012 at 17:09

Unless they can somehow cut back the prices to be the same as online they won't last longer than the 3 years.

zahidworld  Jan. 21, 2012 at 19:54

Their prices are well expensive compared to even GAME!

jk12324  Jan. 22, 2012 at 01:47

They've just increased the price of the Star Wars blu-ray set from £48 to £49.99, the Harry potter one from £32.30 to £39.99 and probably tons of other stuff that I haven't been looking at. I don't think they're getting the idea.

ShaunnyB  Jan. 23, 2012 at 09:33

I hope they don't kick the bucket any time soon, as I have a voucher I need to use! Their prices are ridiculous though. Instore The Wire Complete Boxset on DVD costs £39.99, but online, the same boxset costs £89.99! I know HMV needs to pay the bills, but they're not a charity, and I'll gladly buy from elsewhere.

DivideByZero  Jan. 23, 2012 at 13:36

That is the exact problem with HMV, they outprice themselves except for sale stuff, which they don't make enough money on.

Loss leaders work with supermarkets, but less so with games and films.

I do not want them to go under... I like looking round the shops when in town. I would understand if they did go under though as the tills are rarely busy.

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