HMV stores to honour gift cards

Published Tuesday, 22 January 2013
Comments
Toggle font size
Print

Gift cards will be honoured at HMV stores from Tuesday, its administrators have said.

HMV stores to honour gift cards
There are 11 HMV stores across NI. (© Getty)

The announcement came after the well-known music chain stopped accepting vouchers as payment for its products, despite issuing them until the day before it went into administration.

The administrators also said they would forward all proceeds made from charity releases including the Hillsborough Justice Collective single as soon as possible.

Nick Edwards, Joint Administrator said the decision to honour gift cards had been made after assessing HMV's financial position.

"We recognise that both of these matters have caused concern for individuals and organisations affected and are pleased to have reached a positive outcome," he said.

"We will continue to assess the longer term options for the business whilst continuing to trade. I am hopeful this process will result in the business continuing as a going concern."

There are eleven stores in the region, five of which are based in Belfast.

A Deloitte spokesperson said that gift cards would be honoured across stores in Northern Ireland.

The music chain was established 92 years ago and operates 238 outlets across the UK, employing more than 4,000 people.

It called in the administrator after poor sales over Christmas meant it could not meet its financial commitments.

Gift cards are not being accepted by HMV in the Republic and its shops remain closed.

Deloitte is attempting to find a buyer for the 16 stores as the company is in receivership there.

Sit-ins at several of the Irish shops ended on Saturday after workers were promised they would receive their wages.

Music giants including Universal, Warner and Sony are reportedly offering incentives including generous credit terms and discounted CDs and DVDs to any potential buyer for the company in the UK.

© UTV News
Comments Comments
0 Comments
No comments. Be the first to comment.
POST A COMMENT:
Name:  
Email address*:    
Location:  
Validation:
House Rules:  
Your Comment:  
[All comments are moderated and will not appear immediately. Your name, location and comment will be displayed on this page if your post passes moderation.]
CONSUMER COUNCIL
Know your rights when it comes to Christmas shopping with our Myth Buster guide.
MOST POPULAR GALLERIES
Mon 08 December 2014
One Direction fever
Fri 05 December 2014
U2 music video filmed in Belfast
Wed 17 December 2014