HMV is finally out of administration

I have reacently receaved an e-mail informing customers that HMV is officialy out of administration. The in the email it says:

"As you are no doubt aware, HMV went into administration on 15 January 2013, however we are pleased to inform you that the company is officially out of administration and we're moving forward with the business."

This email was sent to me on 13 April 2013

Original e-mail

In total there was 141 stores in the UK that was saved and here is the full list of stores that was saved.

1. Aberdeen
2. Ayr
3. Banbury
4. Bangor (Wales)
5. Basingstoke
6. Basildon
7. Bath
8. Belfast Donegall Arcade
9. Birmingham Bullring
10. Blackpool
11. Bluewater
12. Bournemouth
13. Bradford
14. Brighton
15. Bristol Broadmead
16. Bristol Cribbs Causeway
17. Bromley
18. Bury
19. Bury St Edmunds
20. Cambridge
21. Canary Wharf
22. Canterbury
23. Cardiff
24. Carlisle
25. Chelmsford
26. Cheltenham
27. Chester
28. Chichester
29. Colchester
30. Coventry
31. Crawley
32. Cwmbran
33. Darlington
34. Derby
35. Doncaster
36. Dudley Merry Hill Centre
37. Dundee
38. Eastbourne
39. East Kilbride
40. Edinburgh Fort
41. Edinburgh Ocean Terminal
42. Edinburgh Princes Street
43. Exeter
44. Gateshead
45. Glasgow Argyle Street
46. Glasgow Buchanan Street
47. Glasgow Fort
48. Gloucester
49. Grimsby
50. Guernsey (St.Peter Port)
51. Guildford
52. Hanley (Stoke-on-Trent)
53. Harlow
54. Harrogate
55. Hastings
56. Hatfield
57. Hereford
58. High Wycombe
59. Horsham
60. Hull
61. Inverness
62. Ipswich
63. Islington
64. Isle of Man (Douglas)
65. Isle of Wight (Newport)
66. Jersey (St.Helier)
67. Kettering
68. King's Lynn
69. Kingston-Upon-Thames
70. Leamington Spa
71. Leeds Headrow
72. Leeds White Rose
73. Leicester
74. Lincoln
75. Liverpool Liverpool One
76. Livingston
77. Llandudno
78. Maidstone
79. Manchester 90 Market Street
80. Manchester Trafford Centre
81. Mansfield
82. Middlesbrough
83. Milton Keynes
84. Newcastle
85. Newport (Wales)
86. Northampton
87. Norwich Chapelfield
88. Norwich Gentlemen's Walk
89. Nottingham Victoria Centre
90. Nuneaton
91. Oxford
92. Oxford Circus 150 Oxford Street, London W1
93. Peterborough
94. Poole
95. Portsmouth Commercial Road
96. Portsmouth Gun Wharf
97. Preston
98. Plymouth
99. Reading Oracle Centre
100. Romford
101. Selfridges Oxford Street, London W1
102. Sheffield High Street
103. Sheffield Meadowhall
104. Shrewsbury
105. Solihull
106. Southampton
107. Southend
108. Southport
109. Speke Park (Liverpool)
110. Staines
111. Stevenage
112. Stirling
113. Stockport
114. Stratford-Upon-Avon
115. Sunderland
116. Sutton
117. Swansea
118. Taunton
119. Thanet
120. Thurrock
121. Truro
122. Tunbridge Wells
123. Uxbridge
124. Westfield London Stratford City
125. Westfield London W12
126. Wimbledon (hmvcurzon)
127. Winchester
128. Wolverhampton
129. Worcester
130. Worthing
131. Yeovil
132. York

Fopp Stores

1. Bristol
2. Cambridge
3. Edinburgh
4. Glasgow, Byres Road
5. Glasgow, Union Street
6. London - Covent Garden
7. London - Gower Street
8. Manchester
9. Nottingham

Dragon's Den Buy's Collapsing Company's

The collapsed High Street camera retailing brand Jessops has been bought by a group including entrepreneur and Dragons' Den star, Peter Jones. This dose not mean that the chain is going to reopen. The part of the deal covering "certain other assets" is understood to mean leftover stock and intellectual property.

There may think that it might be financially possible to reopen the chain but they are not forced to do so. The amount paid to take control of the brand has not been disclosed. When Jessops collapsed earlier this month it closed its 187 branches with the loss of 1,500 jobs. The firm had suffered in recent years due to competition from on line retailers.

There have also been mentions that another Dragons' Den star, Theo Paphitis was considering buying HMV. Earlier this month, Theo Paphitis had suggested that he had no interest in the ailing entertainment retailer, after he claimed on Twitter that it had "no reason to exist anymore".

But according to the Daily Mail, Theo Paphitis is now interested in buying the chain, which went into administration earlier this month. They also claim that HMV has sent out information out to 20 parties potentially interested in investing and expects to receive offers by the end of this week.
Theo Paphitis said: "My interest for HMV harks from an era that thinks, 'What a great brand. Often I have looked at things and thought 'Is there something there?".

HMV Possible Bailout

HMV's 239 stores in administration and a 25%-off sale in full swing, many small companies whose CDs are in the retailer's racks are anxiously waiting to see whether they will lose money as a result of the collapse.

HMV is its most important customer and accounts for 50% of its sales, says Neil Record, who runs the label's sales and distribution department.

"We're a little bit in the dark as to whether we're going to get our stock back," he said, adding that a few thousand CD's were at stake. Generous terms World Music Network, like most independent labels, does not handle its own distribution. Its CD's are actually delivered to music outlets by Proper Music Distribution.

But music industry sources have confirmed to the BBC that in an effort to save the retailer from going under, suppliers both big and small have been providing it with stock on far more generous terms than were being extended to its independent counterparts.

Whereas most record shops have to pay suppliers within 30 days of being invoiced, HMV has been granted a 60-day period. The goods have also been supplied on a sale-or-return basis, meaning that HMV does not pay for items unless its customers shell out for them.

"That cut them a lot of slack," said one source. "In many ways, it was a lifeline for them."

Suppliers have also put up with HMV's lack of central distribution, which means that distributors have to cart the CDs directly to individual shops.

December is the busiest month of the year for CD and DVD sales. HMV could normally expect to receive invoices for those sales this month.

With the 60-day grace period kicking in from the end of the month in which the invoice is received, HMV would not have had to pay the bill until springtime.

But now that HMV is in administration, things become more complicated. If HMV closes down completely, World Music Network and its fellow small labels, queuing up for repayment with the rest of the chain's creditors, might never get paid at all. But while independent record companies face losses from HMV's woes, at least one major label is potentially on the hook for a great deal more.

HMV used to be part of the EMI record company until 1998, when it was spun off as a separate concern. At the time, EMI agreed to guarantee rental agreements on some of HMV's stores.

When Universal acquired EMI last year, it took on those liabilities. So if those stores are shut down and not relate, Universal could face a rent bill running into tens of millions of pounds.

But back at World Music Network, Neil Record is concerned about how to reach his customers if HMV disappears from the nation's High Streets.

"We knew CDs were under attack from digital sales," he says. "It was inevitable, but we didn't expect it this soon."

Fingers crossed that HMV will stay open because meny men wouldn't have many places to go.