bye bye HMV.......

[Oli]

http://www.bbc.co.uk/news/business-21021073

[Kalpsn2000]

http://www.bbc.co.uk/news/business-21021073

Was only a matter of time as the Internet is killing all of these music/video/game stores.

[welikeaps]

http://www.bbc.co.uk/news/business-21021073

Was only a matter of time as the Internet is killing all of these music/video/game stores.

Got it in one. It was to be expected when they sell DVDs/BluRays at extortionate prices when the same things can be had on amazon/online for less. Considering they started out as a music store, they seemed to have lost their way and tried to become a jack of all trades instead of a master of none. Serves them bloody right.

Shame ordinary people will eventually lose their jobs though. Soon the high street will be  full of boarded up shops, 99p/£1 stores, betting shops, banks and coffee shops.

[Andy]

found them to be expensive so never used them for a long time now

[Lone_Par]

As others have said, they were expensive for a lot of what they sold. However I was always surprised to find that when I did actually go in, a lot of the CDS they were selling were actually cheaper than iTunes/Amazon etc.

I think there is some merit in saying people's perception that bricks and mortar shops are always more expensive has helped in their demise.

[andrewparker]

The local councils have a lot of blame to bear. High Street rents are beyond ridiculous. It's no surprise businesses can't exist there.

[Mk5 GTian]

In real terms the price of DVD's and CD's has been falling big time on the High Street. New release DVD's were 13-16 pounds when they first came out, and CD albums were 10-12 pounds in the Eighties! I think the current prices are what they have to charge to make a profit and cover their costs; costs that Amazon et al. just don't have, so therefore HMV haven't a chance of competing on a level playing field, especially as Amazon swing it so they don't have to pay tax.  

When our high streets and shopping malls are all run down, and full of nothing but estate agents, charity shops and fast food outlets, we'll all wish we'd supported these chains.  

[garrardrj]

I beleive business rates are to blame . They are set by governement and not by councils who cannot discount them even if their high streets are failing . HMV have had very stubborn senior staff for some considerable time who thought they knew better than their less senior staff . This would have had an effect on their business as it has been there for 15 years or more . Sad day for the high street again but failure to adapt to a changing business environmnet has caued many businesses to fail . Life on the high street will be very different in ten years.

[tony_danza]

How do you compete with an online business dodging tax and VAT?

[rich83]

.... And let's not forget piracy and illegal digital downloads. Online shopping isn't soley responsible for hmvs problems.

[RedRobin]

.
It's a combination of the factors already posted: Lack of moving with the market's trends, business rates and rent, being too big to easily adapt, taking too much notice of the share price, etc. It also matters who is at the helm of the business.

Comet and Jessops have gone the same way but I can't say I'm sorry. My Dorset market town has a very vibrant high street (actually 3 because of a 'T'-shape layout) and no big chain shop players.

There'll be other big chains going bust but I wonder how the empty shop properties will be dealt with. The landlords will have to learn to be less greedy - If that's possible! Did you know that a high proportion of retail property is owned by the Church!

[RedRobin]

.... And let's not forget piracy and illegal digital downloads. Online shopping isn't soley responsible for hmvs problems.

....Rightly or wrongly, many folks and especially youngsters don't see why they should pay for their music - It has become a culture. HMV's demise is due to a combination of factors and others will follow.

EDIT: Btw, I'm not condoning the practice but just telling it like it is.

[Greeners]

Can't use any vouchers you may have had for Christmas either! 

[Thor]

Looks like HMV along with Jessops yesterday will be the start of it.

Yeah internet commerce and ease with which you can download movies and albums both legally and illegally is not helping the situation, but lets not forget the neverending rise in business rates which is having a massive effect. 

We need to come up with a structure which in part links business rates to the turnover and profitability of the tenant/ business, this would then capture more business rates from Coffee shops et al which have a small footprint employ very few staff but have high turnover and profitablilty.   If we don't and the big firms can't survive how will the small independent shops every come forward?? Every high street will look the same if we dont do something radical.

[garrardrj]

.
It's a combination of the factors already posted: Lack of moving with the market's trends, business rates and rent, being too big to easily adapt, taking too much notice of the share price, etc. It also matters who is at the helm of the business.

Comet and Jessops have gone the same way but I can't say I'm sorry. My Dorset market town has a very vibrant high street (actually 3 because of a 'T'-shape layout) and no big chain shop players.

There'll be other big chains going bust but I wonder how the empty shop properties will be dealt with. The landlords will have to learn to be less greedy - If that's possible! Did you know that a high proportion of retail property is owned by the Church!

AND a vast amount by pension funds . Our government taxes success to death in this country to then give it away (Well 30%) to many who do F*ck all !!!