Will HMV disappear from our High Street forever?
9:00am Wednesday 16th January 2013 in News
ONE of Bolton’s few remaining record shops is under threat after music retailer HMV went into administration.
But bosses from an independent Bolton record shop says there is still a future for niche retailers.
The chain, which employs 10 people in Bolton and has 230 stores across the UK and Ireland, has been hit by falling sales, due to people chosing to buy products online or download music and films onto MP3 players.
Bolton’s Crompton Place branch has seven full-time and three part-time staff and was yesterday trading as normal, although customers were unable to use gift vouchers.
Workers were unable to comment on the news.
Trevor Moore, the UK boss of HMV, said he was confident of finding a solution with administrators Deloitte.
He added: “The intention is to continue to trade at the stores."
“I would like to personally pay tribute to the 4,500 people who work for HMV. This is a very worrying time for them and their families."
Cllr Christopher Peacock was among the shoppers at Bolton’s HMV yesterday.
He said staff told him it was busier than usual as shoppers tried to show their support.
Customer Francis Platt, aged 62, from Bolton, said: “I’ve come here for 30 years. I buy things occasionally but some of my friends come here weekly.
“It would be a real shame if HMV disappeared. There used to be an Andy’s Records in Bolton and Woolworths, but they’ve all gone. Jessops and Comet closed recently. It’s like one shop closing after another.”
Despite the uncertainty, Steve Meekings, owner of X Records in Bridge Street, said it would be a “shame” if HMV disappeared from the high street.
He added: “There’s still a niche market for music and entertainment, especially associated merchandise.
“We still sell new-release CDs, including classical music and soundtracks, and even some cassettes. Despite HMV’s problems, this is not the death of record shops.”
HMV has struggled against online competition. It is the UK’s last remaining national music retailer.
It bought the Waterstones book chain in 1998, but was forced to sell it last year.
Comments(3)
oftbewildered2
says...
10:23am Wed 16 Jan 13
tommy
says...
9:03am Thu 17 Jan 13
oftbewildered2 wrote:I kind of disagree to an extent, I think it's less of the environment and more about how shopping habits have changed and how shopping online is more convenient. I'll admit to some extent I'd choose to avoid Bolton purely just to go to HMV.
I am afraid there will be more shops disappearing over the years - and quite apart from the finaicial situation etc. I feel part of the problem is the way we shop. Many of us shop via the internet for whatever personal reasons we have and this will impact on high street stores. Town centres are less friendly places than they used to be and not always pleasant places to be in. People avoid them. Things have changed, be this for better or for worse and unfortunately not all runners in the race are able to keep up.
I believe it's down to HMV's business model. While Amazon and Play flourished and won over the market, they were extremely stubborn and refused to modify how they operated. Some DVD's (note DVD, not Blu-Ray) were bordering on £20, when online I could find the same one for little over a fiver.
oftbewildered2 says...
10:23am Wed 16 Jan 13