Iconic HMV left to the vultures

Iconic HMV left to the vultures

My 12 year old predicted the demise of HMV about 3 years ago and there should be no surprise at the final demise of this once great entertainment business. The shame is the loss of such an iconic brand. Her Majesty’s Voice silenced for ever. Or has it?

I suspect like Jessops, JJB, FOCUS, COMET etc it will not survive as the Administrator will not have appetite for an innovative solution that will save jobs, high streets etc. Their appetite will be to earn as much in fees as they can to wind up the business over as protracted a period as the can get away with, leaving sod all for creditors.

The system is wrong and needs to change to ensure that businesses such as HMV get a reasonable opportunity to rise from the ashes following a call to administrators. But guess what, administrators are not incentivised to resurect failed companies.

HMV and Jessops are the first of at least a dozen established retail brands set to fail this year. Who will be next … Blacks? 

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Nick has built a reputation over 15 years as a leading protagonist in the Interim Management industry. He has started, bought, rebranded and sold interim management businesses. He is now focusing his attention exclusively at Board and Head of Function level.

   

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