Buyout Negotiations Making "Good Progress"
HMV will continue to stock major new DVD, Blu-Ray and music releases during the administration process thanks to a new arrangement with its key suppliers, while the business is receiving a "positive level of interest" from potential buyers.
However, it's possible that the beleagured retailer will move to massively downsize their videogame collection or even stop selling them entirely.
“We are pleased that these agreements are now in place, allowing us to replenish stock and bring in new titles,” Deloitte 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.”
This is good news for the entertainment side of things, but videogame retail tells a very different story. MCV also reports that only two out of the original ten videogame buyers still remain at the company, while three dedicated Gamerbase stores have been closed (Edinburgh, Manchster and Trocadero). It's more than likely that HMV will do its best to move out of the videogame space altogether.
Edwards also suggested that discussions are still ongoing with interested potential buyers, and remains positive that one or more parties can be coaxed into continuing the "going concern." “Good progress has been made to date and we have received a positive level of interest in the business," he continued. “Discussions are progressing with a number of parties interested in both the business as a going concern and individual assets despite the high fixed cost base associated with a store network."
Naturally we'll keep you updated with the details as we hear them, and wish the very best to the employees recently made redundant from several dozen stores and head office.