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HMV collapse news
This topic is locked: you cannot edit posts or make replies.    AMG(SC) Index -> Anime, Manga, Japan

AMGSC Committee

30 Nov 2008
Posts: 1064
Location: Crewe

PostPosted: 17/01/13 20:11  Reply with quote

all gathered in the 1 thread for neatness

Angry grandfather walks out of HMV with three games after staff refuse to accept gift voucher

Well, that's one way to deal with it.

An angry grandfather walked out of a HMV store yesterday with three games after staff refused to accept his gift voucher.

Despite slipping into administration this week HMV stores continue to trade, but gift vouchers have been deemed worthless - angering many who received them at Christmas.

Eric Nolan, from Dublin, bought his grandson Cian a 40 HMV gift voucher for Christmas, but was told by staff in the Henry Street store it was worthless. Nolan had brought to the counter Euro Truck Simulator 2 (22.40), The Sims 3 Town Life (11.99) and Rail Simulator (2Cool.

At the till a 25 per cent discount was applied, reducing the total from 62.39 to 46.80. He then presented the voucher but was told it wasn't valid. So Eric simply took the games and walked out.

Security staff followed him down the street, according to the Irish Independent, but failed to prevent him making off with the goods. "Somebody has made a conscious decision not to pay out on vouchers and it's despicable," Mr. Nolan told the paper.

He intends to post the voucher and 6.80 to the store. "We are a nation of sheep - but I was determined to win this," he said. "HMV have taken hundreds of thousands of euro from the Irish people this Christmas and we shouldn't put up with it."

HMV is facing growing anger over its decision to refuse gift vouchers, and many customers believe the company should have stopped selling them in early December after warning investors of the coming crisis. Yesterday police were called to a HMV store in Oxford to sort out a dispute sparked when staff refused to accept vouchers from two customers.

Finance director Ian Kenyonn said the company was confident of its legal position, having checked with lawyers back in December. "We had a reasonable expectation [in the runup to Christmas] of addressing our issues with the banks," he said.

Administrator Deloitte insisted HMV would not accept gift cards and vouchers as long as it was in administration, but said any new buyer may honour them.

Source: Eurogamer

HMV accused of theft over gift vouchers debacle

Conservative MP, Sir Tony Baldry says HMV bosses must have known retailer was at risk while they continued selling vouchers
Logo of British music retail chain HMV It is estimated consumers with HMV's now worthless gift vouchers may have lost 100m. Photograph Chris Helgren/Reuters

Rupert Neate

A senior Tory backbench MP has accused HMV bosses of committing theft by continuing to sell vouchers when they must have been aware "there was little prospect of those vouchers or gift cards ever being redeemed".

Sir Tony Baldry, a practising barrister specialising in commercial law, said "directors and management must have known that the company was at very real risk of failure" whilst they continued selling vouchers "all through Christmas and up until the day they went into administration".

His comments came as voucher experts said consumers have probably lost at least 100m in now worthless HMV vouchers. Andrew Johnson, the director general of the UK Gift Card and Voucher Association, said many retailers sell up to 60% of the 4bn of vouchers sold in the UK every year in the run-up to Christmas.

Baldry, MP for Banbury, said there was a "legitimate question" of whether HMV's directors were "obtaining property by deception, ie offences against the Theft Act, in allowing their stores to continue to sell vouchers and gift cards when they must have known that there was little prospect of those vouchers or gift cards ever being redeemed".

Just days before Christmas, HMV's bosses warned investors that there was "significant doubt on the group's ability to continue as a going concern in the future". Yet it continued to sell vouchers to the public, many of whom were unaware of HMV's parlous financial position, until just hours before the company entered into administration.

A spokesman for HMV's directors said: "Until as late as early afternoon on Monday, the directors believed that they had a reasonable prospect of avoiding insolvency and were satisfied that they were complying with all of their legal obligations including in respect of gift cards. When it became clear to the board late on Monday afternoon that they had no option than to file for administration, they issued immediate instructions to all stores to stop selling gift cards."

HMV and Deloitte, its administrator, refuse to say how much money consumers have lost on vouchers they are refusing to honour. Other administrators said Deloitte must know how much money is held in unsold vouchers.

Baldry said in a letter to the Department for Business (BIS) it was "more than unfair" that consumers should be left out of pocket when retailers refuse gift vouchers. He called on BIS to change the law to protect the public. "A gift voucher should be as good as a bankers draft, ie a consumer should know that they will either be able to redeem the gift voucher, or get their money back, and there is absolutely no reason why companies shouldn't keep monies raised from gift cards or vouchers in a separate account," he said.

Ian Murray, Labour's shadow minister for consumer affairs, said he had written to HMV and Deloitte to ask them to immediately disclose how much money the public has lost in HMV vouchers. "It will strike consumers as unfair that whilst the company is still trading, they are unable to use gift cards and vouchers," he said. "I hope that HMV and its administrators will be able to reconsider their decision."

Johnson said the board of the GCVA would discuss whether to allow a resurrected HMV to remain a member of the association if it continues to refuse to honour the vouchers. He added that public pressure could force the administrators to reverse their decision and honour the vouchers. The same team of Deloitte administrators started accepting Comet vouchers following publicity about a four-year-old cerebral palsy sufferer unable to buy an iPad with vouchers from the electricals retailer that collapsed before Christmas.

Richard Lloyd, executive director of Which?, said it was "outrageous" that consumers have been left out of pocket. "We want the rules on gift vouchers and insolvency to be reviewed to ensure consumers are adequately protected in cases like this," he added.

Dean Dunham, founder of consumer rights website, said it was "morally appalling" that HMV's bosses continued to sell vouchers "when they would've known they were in trouble and going into administration, and they knew the first thing administrator would do would be to take them."

HMV Ireland collapsed into receivership yesterday and 16 shops in the Republic closed their doors. Receivership is more serious than the administration process in the UK, which increases fears for HMV's 300 Irish jobs.

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22 Sep 2010
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Location: Sandbach or "Da Batch"

PostPosted: 04/02/13 16:50  Reply with quote

I know it's old news but the HMV collapse does mean that anime is getting harder to get from the right suppliers.
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AMGSC Committee

30 Nov 2008
Posts: 1064
Location: Crewe

PostPosted: 04/02/13 20:10  Reply with quote

Amazon are still a pretty decent source, HMV were always overpriced apart from some sale offers anyway

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