Tuesday 15 January 2013

HMV in administration

Trevor Moore said management had begun working with administrators Deloitte.


"We remain convinced we can find a successful business outcome," he told journalists. "The intention is to continue to trade the stores."

HMV revealed late on Monday that it intended to appoint an administrator. The firm has struggled against online competition.
Mr Moore said the board would do whatever they could to support staff.

"I would like to personally pay tribute to the 4,500 people who work for HMV. Clearly this is a very worrying time for them and their families."


HMV Chief Exec Trevor Moore was also CE at Jessops. And senior manager at Esporta (sold to Virgin), Threshers (went under 2009), Coffee Republic (went into admin in 2009)... if this man ever comes anywhere near your business, I'd start looking for a new job if I were you!


Founded in 1921, it has been one of the most recognisable brands on the High Street, with its iconic dog and gramophone trademark.

But many analysts say its demise has been inevitable over the past 20 years as it failed to embrace the shift towards online sales and digital downloads.

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