CASH-HIT HMV TO HONOUR GIFT VOUCERS

HMV store in Donegall Arcade, Belfast

HMV store in Donegall Arcade, Belfast

STRUGGLING music store giant HMV will honour gift vouchers from Tuesday.

The announcement by administrators Deloitte came after HMV stopped accepting vouchers as payment for its products.

This was despite selling them to customers just 24 hours before it called in the administrators.

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

The Errigle Inn on Belfast’s Ormeau Road had been helping out HMV customers in an exchange scheme.

The owners told patrons that they could get a free pint if they presented their HMV vouchers to bar staff.

Customers still retained their HMV vouchers and from Tuesday they now will be able to redeem them in one of the company’s NI stores.

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.

The Errigle Inn traded gave a free pint for HMV voucher

The Errigle Inn traded gave a free pint for HMV voucher

“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, where the music retailer operates as a separate company and shops remain closed.

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

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.

 

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