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HMV Fighting To Stay Afloat After Huge Loss

The Pro Audio Web Blog

Last week the British high-street music retailer giant HMV reported yet another half-yearly loss of £36.1 million after a 10% fall in sales in the last six months. With a highly competitive online presence, usually offering lower prices than what psychical shops can compete with, there has been a massive collapse in the demand for CD's, DVD's, Blu-Rays and Games available on the high-street. Because of this HMV is not the only company to fall short to internet bargains. A prime example of what this can do to a business has been seen earlier this year where GAME was forced to enter administration.


With huge debts looming from a slump in consumer interest, HMV has formally announced that they have no plans to enter into administration. Even with the recent sale of their live music division 'MAMA Group' and The Hammersmith Apollo for £53.3m, HMV failed to settle its current debts of £176m. However, with this being said there has been some light at the end of the tunnel. Earlier this week Apollo Global Management, an American alternative asset management and capital investment company, purchased 10% of HMV's debt from Allied Irish Banks. From this interest we could see that HMV may shortly be entering into a takeover if a majority share is bought. I personally believe that is this is the case then it is likely  that we wont see HMV drop from out high-streets after 113 years of history.


Edd Harris

Last week the British high-street music retailer giant HMV reported yet another half-yearly loss of £36.1 million after a 10% fall in sales in the last six months. With a highly competitive online presence, usually offering lower...

Edd Harris 17th December 2013

Article Ref: #HMVDeath