Change of mind over HMV gift vouchers
ADMINISTRATORS at Deloitte have performed a u-turn and said that gift vouchers will now be accepted at HMV stores.
As reported in The Post last week the chain is one of a series of firms on the High Street to call in the administrators following a worse than expected Christmas.
HMV had three stores in the Bristol area in Broadmead, Weston-super-Mare and at Cribbs Causeway.
And the announcement that gift vouchers are now being accepted came after the administrators were put under pressure by consumer groups.
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Deloitte announced it had changed its mind and will be able to honour the vouchers after reassessing HMV's financial position.
Meanwhile, restructuring specialist Hilco has emerged as the frontrunner to save the chain of stores from closure.
A spokesman for Deloitte said: "We will continue to assess the longer term options for the business whilst continuing to trade.
"We are hopeful this process will result in the business continuing as a going concern."
An industry consortium of music labels and film studios, including Universal Music and Sony, are believed to favour Hilco, according to reports in the financial press.
Deloitte said there are 50 separate groups or individuals who have expressed an interest in buying all, or part of the HMV chain.
HMV has 223 UK stores in total, and a workforce of about 4,000.