By Ross Findon
Tuesday, January 15, 2013
Shoppers queue to buy Isle of Wight Festival tickets at HMV's Newport store. Next door is Game, which closed down last year.
ANOTHER big name Isle of Wight high street store faces an uncertain future after it was announced it was going into administration.
HMV, which opened its Newport store in 1996 with the help of pop band Dodgy, announced yesterday (Monday) that it was calling in administrators, but would continue to trade while a purchaser was sought for the business.
The company employs around 4,500 nationally.
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by Stephen Elliott
16th January 2013, at 23:24:46
Music and dvd's are loaned to HMV from distributors and HMV pay for each item as they sell it. So in effect the stock isn't actually there's, that's why prices rise. It's to make money before the supplier recalls goods! Only the trade in stock will drop in price.
by Richard Curzon Beet
16th January 2013, at 16:36:12
...and Blockbuster Video! Where will it all end?
by Warren Copland
15th January 2013, at 12:34:46
Apparently Johnson Cleaners are closing down too!
by T Rollingsworth
15th January 2013, at 11:05:41
I'm sure they haven been into Administration before? It's annoying during this period as they often raise the prices of goods to their full RRP so that the company's physical-stock is worth more - which means less people will go in there, which will mean it will close sooner. Hopefully they will get a buyer, newport is dying
by Lee Majors
15th January 2013, at 09:49:41
I went in HMV earlier and asked the guy behind the counter if they had any Run DMC records. "Walk this way," he replied.
Any views or opinions presented in the comments above are solely those of the author and do not represent those of the Isle of Wight County Press.
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