Thats HMV going as well!

Originally Posted by Biker Biggles

I can understand why they did it too,but theres a fine line here.If you take money for a product and you can reasonably be expected to know that you will be unable to honour that transaction you commit fraud.Isnt that "fraudulent trading"and would be enough to disbarr you from being a director of a company?Im not saying they did this,but I would think there is a case for an investigation.

Don't know, at work it's the kind of question I'd fire at the legal dept and wait 3 weeks for a response.

[widepants]

Think I need to get a job at Deloitte

Originally Posted by Biker Biggles

I can understand why they did it too,but theres a fine line here.If you take money for a product and you can reasonably be expected to know that you will be unable to honour that transaction you commit fraud.Isnt that "fraudulent trading"and would be enough to disbarr you from being a director of a company?Im not saying they did this,but I would think there is a case for an investigation.

There is no line at all really, not legally anyway. When you buy a voucher, thats exactly what you buy, and voucher. They are obliged to exchange the voucher for goods, but in the same way they are obliged to pay back their loans. In not exchanging it they are defaulting, but having already defaulted there is no additional loss on their side.

Also the "reasonably be expected to know that you cannot honour it" would be extraordinarily difficult to prove. Something like 50% of their trading will be in December, possibly more. The difference between sink or swim can be about 3% in a year (the size of the profit margin) December sales forecasts can be 15-20% out, even by competent experienced analysts.

[flymo]

This is the sort of thinking that should have been employed within HMV http://www.bbc.co.uk/news/business-21057345

Adjusting your business to suit the changing needs of your customers may just keep you in business. HMV could easily scale back the number and size of its stores, streamlining their supply chain to service a predominantly online ordering system. The smarter ones would be combining supply chains, even with competitors, to gain efficiencies.

[Mark_h]

Potential positive news .....
If you got HMV vouchers from Tesco or Asda and have proof of purchase they will exchange them for their own....
Source moneysavingexpert.com

HMV gift card exchanges
Retailer Did it sell HMV cards? Will it exchange?
Asda Yes Yes
Boots Yes TBC
Clintons Yes TBC
Morrisons No N/A
Sainsbury's No N/A
Tesco Yes Yes
Waitrose No N/A
WHSmith Yes No
Wilkinson Yes TBC

We will update this table when we get more information.

[Bibio]

Originally Posted by yorkie_chris

Good luck getting anything back off the administrators though you'll be at the bottom of a long list.

remember fairpak... we just got paid a pittance recently as now they have deemed everything to be done and dusted while they made millions.

insolvency company's are just another legal term for robbing barstewards.

Apparently HMV are going to start accepting gift vouchers again from the 22nd.

According to the BBC anyway.

[Tomor]

Woohoo going into town on Wednesday so will take it with me an spend it ASAP!

Too much piracy. They were crap anyway


Sent from my iPhone

[Littlepeahead]

Originally Posted by Tomor

Woohoo going into town on Wednesday so will take it with me an spend it ASAP!

I don't think Bargain Hunt is available on DVD yet...