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Old 14-01-2009, 23:05   #501
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Originally Posted by Retronana View Post
Christmas trading performance for hmv was impressive given the current climate.
Trading since has been nothing short of staggering.

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I'm not sure if any new product is being shipped to Zavvi, I have a list of E&Y directors who can authorize orders at work so I assume someone may be supplying them, not me unfortunately
The Colchester branch, one of the remaining 80, haven't had deliveries of new stock since prior to Christmas. Instead they've been receiving transferred lines from closing zavvi branches. I was informed recently by someone at TNT that all their drivers had been informed that if anything was down for delivery to a zavvi store, a member of mgmt had to call their head office first to get authorisation to receive it, otherwise the TNT driver had to take it back to the depot. I suspect only a handful of stores are getting any new product whatsoever.
It's good news for the stores that were bought & the staff who will keep their jobs. On better pay/benefits too. Much less so for those remaining. If hmv have had the pick of the zavvi stores then that would suggest, it will be very unlikely that someone will want to buy all the dregs .
It's also a shame that for instance I knew on Monday what stores were being bought yet I know zavvi staff that had no idea, and were/are still completely in the dark as to what will happen to them as they're being told nothing from zavvi H/O.

Last edited by Mr M0by; 14-01-2009 at 23:06.
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Old 15-01-2009, 00:10   #502
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HMV buying up Zavvi stores is just bad for the consumer. Less high street choice.
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Old 15-01-2009, 00:22   #503
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Except zavvi don't have another buyer (announced as yet anyway) and so the stores would close and there would still be "less high st choice".
350 people will now have a better job security and i'd assume they're relieved by that.
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Old 15-01-2009, 09:03   #504
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HMV buying up Zavvi stores is just bad for the consumer. Less high street choice.
Unless they do make them all Fopp stores. Pile old stock high and sell cheap and keep the new 'popular' stuff in HMV.

I'd be happy if I didn't have to to to Edinburgh or Manchester to go to a Fopp

Obviously, all the cash will end up in the same pockets at the end of the day.

Oh, and:

Grattan to shed over 1,000 staff

Sales slide at Currys and Argos
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Last edited by Ste7en; 15-01-2009 at 09:05.
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Old 15-01-2009, 19:12   #505
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Mr MOby, sorry I was trying to be reserved in my hmv judgement, it's a good indicator of the business management of Simon Fox and the all the teams in Film House and in stores.
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Old 15-01-2009, 20:09   #506
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it's a good indicator of the business management of Simon Fox and the all the teams in Film House and in stores.
I never read it as anything less. Nor was I meaning to be flippant. It's just that the figures were only based up to 5th or 6th Jan I think & LfL growth has been way way higher than that since xmas. I guess that kinda comes from being a 'last man stadnding' of sorts though.
I'm a little less certain about the MAMA venture though. Am I right in thinking that hmv haven't actually paid £20m for the privelage but have given 5% of the company instead?
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Old 15-01-2009, 20:37   #507
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I never read it as anything less. Nor was I meaning to be flippant. It's just that the figures were only based up to 5th or 6th Jan I think & LfL growth has been way way higher than that since xmas. I guess that kinda comes from being a 'last man stadnding' of sorts though.
I'm a little less certain about the MAMA venture though. Am I right in thinking that hmv haven't actually paid £20m for the privelage but have given 5% of the company instead?
The MAMA deal does look as you describe, strange deal IMHO, although given most music publishers are agreeing 360 deals with their artists it looks like Simon Fox has made a move to get hmv involved in this type of deal.

It looks like hmv were offered the opportunity to buy MAMA outright although they decided to offer hmv shares to the value for a 50% share of the MAMA.

Personally I'm a little worried that this and the purchase of the multi player gaming company (that has the back part of hmv Troc) look more like desperate sales as opposed to good purchases.

I know from my business, if you have either a good share value or cash there are some great purchases to be made although the prices being asked are way too high.

We turned down a deal a few weeks ago, the company concerned were asking for an astronomical amount of money for a licenced product that was only really worth half of what they were asking.
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Old 19-01-2009, 12:52   #508
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Our local Zavvi have now cordoned off about a quarter of the floor space and moved stuff about to account for the dwindling stock. I'd prefer them to find a buyer but if there's any word of them dropping to maybe 50% off, I've got my eye on a few special ed. CD sets ...
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Old 19-01-2009, 12:56   #509
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Zavvi in limerick is being bought up by HMV. Nice one.
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Old 19-01-2009, 18:47   #510
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Another business goes up the spout (Empire Direct)

This is now on their home page
Quote:
Mark Firmin and Richard Fleming, both of KPMG LLP, were appointed in the High Court as Joint Administrators of Empire Direct Plc on 19 January 2009 The business is unable to trade in administration due to low stock levels and operating losses and accordingly the stores have been closed.
I pity anyone who is waiting for a delivery.
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Old 19-01-2009, 18:54   #511
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wow. obviously trading conditions are tough, but I had no idea Empire Direct were in this much trouble. At least there was a fair bit of warning with the others...

edit -- ok just realised they'd made half their workforce redundant prior to this. really bad news for the workforce & customers who'd placed orders.

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Old 19-01-2009, 18:56   #512
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wow. obviously trading conditions are tough, but I had no idea Empire Direct were in this much trouble. At least there was a fair bit of warning with the others...
Indeed! Noticed several bargains with them over Christmas.
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Old 19-01-2009, 18:58   #513
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Just seen on news empire direct gone under, thats my free extended warranty(not too worried) gone to the wall for my tv i got in decemeber.
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Old 19-01-2009, 18:58   #514
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nearly bought something off there last night.
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Old 19-01-2009, 19:01   #515
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Got a LCD off them just before Christmas with a free extended warranty(not too worried as was the cheapest), I didnt relise they were in trouble.
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Old 19-01-2009, 19:04   #516
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I returned an lcd to them in November and got a full refund.

Glad I did.
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Old 19-01-2009, 19:08   #517
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Got a LCD off them just before Christmas with a free extended warranty(not too worried as was the cheapest), I didnt relise they were in trouble.
Ditto!
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Old 19-01-2009, 19:21   #518
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Just seen on news empire direct gone under,
http://news.bbc.co.uk/1/hi/england/w...re/7838656.stm

"Electrical goods retailer Empire Direct has gone into administration, with the loss of 158 jobs.

The Leeds-based firm traded mainly online but also had 14 UK stores, which have closed."
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Old 19-01-2009, 19:25   #519
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I was in one of the stores on Saturday and it was fairly quiet... they were out of stock of the item (in fact their general stock levels were low on a lot of stuff) I wanted but a local Comet price matched it and saved me 30%
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Old 19-01-2009, 19:26   #520
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Not good is it, with all the competition going under i guess prices will start to rise
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