It appears HMV is set to become the latest high street retailer to face closure, with administrators Deloitte expected to move in at the opening of business tomorrow.
This comes after several years of declining profits and hard fought battles against online retailers and cut price supermarket deals.
What is unclear currently is whether the HMV brand will remain, like GAME before it, or all but disappear within a matter of days, like camera specialist Jessops just last week.
HMV currently operate more than 230 stores and employ over 4,000 staff.
Personally, I think we all know this has been on the cards quite a long time – I do believe however that the name and iconic branding still holds some precedence and hope to see at least some of the stores saved.
It’s important to stress that if administrators are appointed the chain is no longer required to accept any gift vouchers or store credit. I therefore recommend that if you can, you spend those as soon as doors open tomorrow, or risk losing them.
Best wishes to all affected.