Newbury HMV to close Options

[Strafin]

HMV had to pay huge dividends to the shareholders, and inflated bonuses to the board. It is again the rich who are unwilling to make the sacrifice to keep the stores going, they couldn't cut the wage costs on already min wage staff!

[On the edge]

Story about a golden eggs and slaughtering geese comes to mind, but again, their choice. Markets aren't about democracy!

[Gazzadp]

I saw your post on Facebook. Your ebay/cheapskate attitude in which you expect people to sell things to you at a loss is the reason that businesses like HMV can't survive. Enjoy sifting through the bins after they close.

I see you did want to quote my main comment FULLY or truthfully though, that being that I think the staff should be able to take what stock is destined "to be destroyed" (direct quote from staff). As I think they should be allowed to take it home and try and flog via eBay or what ever if they want!

As it I have always bought CD's, DVD's and games on disc and retail packaged. Yes like others I try and shop around to get the best price, be that on the high street or online. I can honestly say that I have never downloaded anything like that to date. I just prefer to have the physical goods.

The fact is though, there is NO reason why HMV should BIN or DESTROY any physical stock. As it is a known fact that only the unprofitable stores are being closed down. As the company which bought out HMV's Canadian stores has already bought the brand and the most profitable shops. So all remaining stock really should be boxed up and shipped to those stores that are definitely staying open.

Lastly lets not forget that HMV has brought all this about on itself, poor management & over priced goods when compared to even other high street outlets, they committed commercial suicide by making an unwise move in selling more hi tech goods. It was those suppliers who (rightly) refused to send HMV new stock in the lead up to last Christmas, as HMV wanted the stock now, but pay later. Even though those companies were still owed money from HMV! The banks then saw that and decided to pull the plug.

So if HMV had not moved into hi tech goods, it admittedly would still be in trouble as it has been for the last several years, but the fact is it would not be where it is now!

[Darren]

I don't think the recession would have anything to do with it! No-one is going to throw away £20 for nothing (unless you're the type who lights his cigars with twenty pound notes ).

Fifty's here. Twenties are too small and don't burn long enough.

[newres]

I see you did want to quote my main comment FULLY or truthfully though, that being that I think the staff should be able to take what stock is destined "to be destroyed" (direct quote from staff). As I think they should be allowed to take it home and try and flog via eBay or what ever if they want!

What would a shop worker know?

That stock will all be boxed loose into a pallet sized box and bought by specialist wholesalers of this kind of secondary market stock who will sell it on to small sellers who will then sell it for pennies on ebay or Amazon Marketplace.

No matter what HMV did, they could never compete with Amazon or Play who were shipping from the Channel Islands VAT free. The diversification into electronics was an attempt to sell things with a margin. The only way they ould ever compete was to close their bricks and mortar stores and go online only if they continued selling CDs etc.

[motormad]

HMV went down because it was more expensive than any other high street retailer, among other things. Let's not make up crap about VAT free eh?

[newres]

HMV went down because it was more expensive than any other high street retailer, among other things. Let's not make up crap about VAT free eh?

How is it crap or made up?

http://www.guardian.co.uk/business/2011/no...-waiver-blocked

[JaneGibbs]

Does anybody know when they are officially closing? I thought it was going close immediately.

[Spider]

Does anybody know when they are officially closing? I thought it was going close immediately.

I believe they are waiting to the stock runs down before moving out. As they still own the premises they will decide when they shall vacate it.

[JaneGibbs]

I believe they are waiting to the stock runs down before moving out. As they still own the premises they will decide when they shall vacate it.

Thank you.

[Spider]

Even though it is sad that shops such as HMV are closing down we have to move on. One closes and another one takes it place. Nothing ever lasts. You never know when the economy picks up they might reopen in Newbury. At least we still have them on line. And don't forget Sainsbury's and Tesco's also do CDs and DVDs.

[motormad]

Cheese.

[dannyboy]

Even if they had adapted, it wouldn't have necessarily meant that our high-street store would have remained open.

Of course it wouldn't. Adaptation to the current market means sending everything from a huge wharehouse, to the dwindiling number of customers who still buy media in a physical format.

Netflix is £6.00 a month isn't it?

[dannyboy]

HMV went down because it was more expensive than any other high street retailer, among other things. Let's not make up crap about VAT free eh?

I'd know your facts before posting in such a way as to make an **** of yourself.

[dannyboy]

I see you did want to quote my main comment FULLY or truthfully though, that being that I think the staff should be able to take what stock is destined "to be destroyed" (direct quote from staff). As I think they should be allowed to take it home and try and flog via eBay or what ever if they want!

As it I have always bought CD's, DVD's and games on disc and retail packaged. Yes like others I try and shop around to get the best price, be that on the high street or online. I can honestly say that I have never downloaded anything like that to date. I just prefer to have the physical goods.

The fact is though, there is NO reason why HMV should BIN or DESTROY any physical stock. As it is a known fact that only the unprofitable stores are being closed down. As the company which bought out HMV's Canadian stores has already bought the brand and the most profitable shops. So all remaining stock really should be boxed up and shipped to those stores that are definitely staying open.

Lastly lets not forget that HMV has brought all this about on itself, poor management & over priced goods when compared to even other high street outlets, they committed commercial suicide by making an unwise move in selling more hi tech goods. It was those suppliers who (rightly) refused to send HMV new stock in the lead up to last Christmas, as HMV wanted the stock now, but pay later. Even though those companies were still owed money from HMV! The banks then saw that and decided to pull the plug.

So if HMV had not moved into hi tech goods, it admittedly would still be in trouble as it has been for the last several years, but the fact is it would not be where it is now!

All retailing is based upon the understanding of stock now, pay later.

[On the edge]

All retailing is based upon the understanding of stock now, pay later.

Can you have a word with some of my manufacturers?

[dannyboy]

Can you have a word with some of my manufacturers?

Do you mean you pay pro forma for your stock? Surely it is on account or sale / return?

Does not do much good mind. Look at MFI - took payment from punters for furniture & kitchens which were not ex stock on the day of purchase, yet were only invoiced by the manufacturer on delivery to the punter......and they still went bust.

[motormad]

I'd know your facts before posting in such a way as to make an **** of yourself.

£45 for a box set of 24?
No thanks.

[On the edge]

Do you mean you pay pro forma for your stock? Surely it is on account or sale / return?

Does not do much good mind. Look at MFI - took payment from punters for furniture & kitchens which were not ex stock on the day of purchase, yet were only invoiced by the manufacturer on delivery to the punter......and they still went bust.

Depends on your trade and your business model. The general store I had n years ago was stocked from Cash & Carry with a fair number of van sales. All cash on the spot and the risk was mine. Selling a/c or heat installations is often bespoke and we generally buy to order. Taking credit or not depends on if we can get it or not.

Retail isn't just a matter of asking a wholesaler for a lorry load of goods, selling them to the customers and then paying the wholesaler. Would that it was!

Dead easy to fall over though. Your price will only be what the customer thinks is reasonable and then there are your overheads; which only increase by inflation. Reason why I get upset when rates and such like go up by more.