HMV RIP

[CallMePaul]

But this seems pretty unequivocal from the BBC report ?

"The administrators KPMG announced that the company's flagship Oxford Street store in London is among the 27 outlets set to close.

The HMV stores in Manchester (Trafford Centre), Sheffield (Meadowhall) and Glasgow (Braehead) are also set to shut."

I can't vouch for Sheffield, but in Manchester and Glasgow there are larger stores in the City Centres which are set to remain open. The Manchester and Glasgow Fopps are, however, on the closure list.

[cloughie]

It appears that the Truro store will remain open.

[Serial_Apologist]

It appears that the Truro store will remain open.

Too far to cycle...

[Dave2002]

It is on the version of the link I'm looking at, between Merry Hill and Peterborough - unless there's a place (rather than a street) called Oxford Street....

Indeed - I was looking for London, Oxford Street.

I hope that the new owner does manage to turn it round - though my investment money has gone for ever I'm sure. I did have shares (not too many) in the original company - more by accident than design. Presumably they are all dissipated in these company sales etc.

Maybe the new owner is not so interested in Classical music, but with respect to other genres his realisation that - at least in his opinion - it was no good selling only to the very generalised mass market, as enthusiasts want and expect more, seems perceptive. Even if he doesn't apply such insights to classical music, I wish him and his store well.

[Conchis]

Indeed - I was looking for London, Oxford Street.

I hope that the new owner does manage to turn it round - though my investment money has gone for ever I'm sure. I did have shares (not too many) in the original company - more by accident than design. Presumably they are all dissipated in these company sales etc.

Maybe the new owner is not so interested in Classical music, but with respect to other genres his realisation that - at least in his opinion - it was no good selling only to the very generalised mass market, as enthusiasts want and expect more, seems perceptive. Even if he doesn't apply such insights to classical music, I wish him and his store well.

He is a music enthusiast, albeit perhaps mainly for the rock genre. In actual fact, though, the same obsessive habits apply to music enthusiasts of all genres.

[gradus]

He is a music enthusiast, albeit perhaps mainly for the rock genre. In actual fact, though, the same obsessive habits apply to music enthusiasts of all genres.

Good luck to him, I fear that he'll need it.

[Conchis]

I wouldn't be at all surprised if the Fopp side of the business is moderately profitable: smaller stores, cheaper rents, wider range of stock, competitive pricing and a changing range of 'sale' items make it a good place to browse in and browsers usually become buyers. I don't think anyone has gone into an HMV outlet in the last (say) ten years without having a specific idea of what they wanted to buy.

[pastoralguy]

I wouldn't be at all surprised if the Fopp side of the business is moderately profitable: smaller stores, cheaper rents, wider range of stock, competitive pricing and a changing range of 'sale' items make it a good place to browse in and browsers usually become buyers. I don't think anyone has gone into an HMV outlet in the last (say) ten years without having a specific idea of what they wanted to buy.

More and more, I found myself going into the Princes Street branch of HMV and leaving with nothing. Whereas before I would leave with a pile of stuff, I found the time I spent in the store became shorter and shorter and the £s spent less and less.

[crb11]

I wouldn't be at all surprised if the Fopp side of the business is moderately profitable: smaller stores, cheaper rents, wider range of stock, competitive pricing and a changing range of 'sale' items make it a good place to browse in and browsers usually become buyers. I don't think anyone has gone into an HMV outlet in the last (say) ten years without having a specific idea of what they wanted to buy.

I agree. I pop into Fopp about once a month and have no trouble coming out with a small pile of purchases. It would be larger but I impose a budget.

Surprisingly, the list of closures includes four of the nine Fopp branches (fortunately not the Cambridge one) so maybe they weren't doing as well as we thought.

[teamsaint]

I wouldn't be at all surprised if the Fopp side of the business is moderately profitable: smaller stores, cheaper rents, wider range of stock, competitive pricing and a changing range of 'sale' items make it a good place to browse in and browsers usually become buyers. I don't think anyone has gone into an HMV outlet in the last (say) ten years without having a specific idea of what they wanted to buy.

I have. Quite often.

[cloughie]

[/B]

I have. Quite often.

So have I!

[teamsaint]

But this seems pretty unequivocal from the BBC report ?

"The administrators KPMG announced that the company's flagship Oxford Street store in London is among the 27 outlets set to close.

The HMV stores in Manchester (Trafford Centre), Sheffield (Meadowhall) and Glasgow (Braehead) are also set to shut."

Wasn’t the Oxford street store reported to have several floors unoccupied for the last few years? Pretty expensive space to have earning nothing.

[Conchis]

I agree. I pop into Fopp about once a month and have no trouble coming out with a small pile of purchases. It would be larger but I impose a budget.

Surprisingly, the list of closures includes four of the nine Fopp branches (fortunately not the Cambridge one) so maybe they weren't doing as well as we thought.

Closures don't always reflect the profitability of an outlet, but profitable stores often pay the price for problems elsewhere in an organisation.

You may remember the British branches of the American book chain Borders? I thought those shops were really good and - guess what? - other people did, too. They were doing very well, but problems within the American parent company forced their closure about eighteen months after the financial crash of 2008.

[teamsaint]

Closures don't always reflect the profitability of an outlet, but profitable stores often pay the price for problems elsewhere in an organisation.

You may remember the British branches of the American book chain Borders? I thought those shops were really good and - guess what? - other people did, too. They were doing very well, but problems within the American parent company forced their closure about eighteen months after the financial crash of 2008.

A number of the UK Borders stores were white elephants. Impossible to believe that either Newbury or Southampton ( ludicrous place to open a store with two excellent Waterstones within a stones throw) were profitable. But thet were good and well run stores on the whole.

They were struggling in an era when UK book shops were closing in droves. They were, in fact ,almost certainly loss making.

[cloughie]

A number of the UK Borders stores were white elephants. Impossible to believe that either Newbury or Southampton ( ludicrous place to open a store with two excellent Waterstones within a stones throw) were profitable. But thet were good and well run stores on the whole.

They were struggling in an era when UK book shops were closing in droves. They were, in fact ,almost certainly loss making.

I enjoyed shopping in the CD section at the Birmingham Borders in the early 2000s.