Businesses going bust

[DVL418]

RE: Businesses going bust

(15/01/2013 08:09)MPTE1955 Wrote:  Correct HMV did own Waterstones and did indeed sell them in order to get some money in. This is the second big company to go bust this year and it is only the second week of January, you wonder who will be next.

Whilst Jessops are 'toast', I strongly suspect we will see HMV continuing in some form or another.

Also suspect we haven't seen th end of the bloodshed on the high street yet.

[H101GEV (Administrator)]

RE: Businesses going bust
I wouldn't be so sure about HMV's future. The reality is that as far as music goes, there is simply no competing with the Internet. Physical CD releases are practically dead nowadays.

[wirralbus]

RE: Businesses going bust
HMV in its present format with large amounts of high street shops may be a thing of the past , there is still a market for CD and DVD's not everybody is so technologically advanced yet to be able to purchase from the Internet or downloads to i tunes .

[DVL418]

RE: Businesses going bust

Indeed.

However, the music industry has indicated that it still values a High Street presence for its product. - now

time for them to put up some hard cash.

Also, the Channel Islands VAT loophole that was exploited by the likes of Tesco and Asda is being closed and will add 20% to costs of CDs and DVD in supermarkets should help.

[K853 MTJ]

RE: Businesses going bust
Could the potential downfall of HMV see second hand media stores such as CEX come into the limelight a bit? For what is a relatively unknown store, I swear by it myself and always search there for a good bargain.

[St Helens Rider]

RE: Businesses going bust
Might also see more stores like That's Entertainment selling a lot of older CD's/DVD's/Games very cheaply.

[K853 MTJ]

RE: Businesses going bust
Thats another one, as a general rule when it comes to media I always tend to buy second hand when possible, mainly because it's a lot cheaper and the same thing which youd pay twice the price for in a supermarket for example.

[CX06 EBK (Administrator)]

RE: Businesses going bust
I don't think the tax loophole closing will help, plenty of cheap DVDs and CDs on Amazon and Plays marketplace while for games places such as Cex and Grainger Games are just above and beyond better on price than HMV can ever hope to be, the same issue befalls Game for the most part too.

[gilesbus1]

RE: Businesses going bust
Yes the VAT loophole is closing I have heard as a result Play.Com is to stop operating as it is in March and all of its Channel Islands based staff are to be made redundant and Play will be turned in a Market Place site.

Nothing seems though to stop Amazon's domination of the market how long before shops like the Works, Waterstones and WH Smitsh follow suit and call in the Receiver, and even on a distant scale publishers that Amazon doesn't stock or promote?

Though shops really don't help themsewlves I am not happy about having to pay a 1p Tax on rubbishy poor quality carrier bags at WH Smitsh that display their advert, the green tax business is a load of rubbish its an excuse for WH Smith to rake up the tills, if it was really serious about it, it would only sell cloth reusable bags. The situation at WH Smiths with thsi is disgusting and I often feel like complaining about it. Amazon doesn't charge for its packaging which is more substantial so why should WH Smith????

Then there is the issue of car parking charges and also the issue of openning hours, shops and town centres are not helping themselves if they want to remain in business.

Then if we want to look further at it, did HMV care when they drove independent record shops to the wall in the 1960's - 1980's, and likewise did Waterstones care when it desimated the independent booksellers between 1984 and 2005???

[wirralbus]

RE: Businesses going bust
It seems the High Street will consist of Tesco , a few banks and a couple of charity shops and maybe a restaurant and thats it.

People who shop online only have themselves to blame for some of the town centres having more boarded up shops than open ones.