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Tag Archives: administration

Second Snowden-like leaker potentially identified by FBI

While Edward Snowden’s whistle blowing document dumps to the likes of The Guardian have given us invaluable information about how the intelligence agencies of the US and British governments see the public and their rights, the reveals were always a little to big for one man alone. Some of the …

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Phones 4U won’t be refunding iPhone 6 pre-orders

Most of you have probably heard by now that Phones 4U has gone in to administration and is selling off its retail stores and assets to the likes of EE and Vodafone, the same networks that allegedly drove it out of business. However, despite offloading its retail stores, the company’s financial …

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Blockbuster finally closing all stores this weekend

If you’ve never visited a Blockbuster but it was on your list of things to do before you die, you better do it this weekend as by Monday, every single one of the chain’s last remaining stores will permanently shut down. For good this time. It’s not coming back. This …

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Blockbuster is back in administration

Longtime video and DVD rental service Blockbuster, has for the second time this year, entered administration and is seeking a new buyer. It previously circled the the drain in February but was picked up by Gordon Brothers Europe in March – obviously that saving grace didn’t last. The relatively new …

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HMV reinvents itself with apps and downloads

HMV is going all digital with its relaunch, delivering new Android and iOS apps to allow music purchases, alongside a new website heavily influenced by app culture and using HTML5 to increase functionality across Windows and Blackberry devices. The revamped site isn’t quite ready yet – the official launch is …

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Some HMV stores have been saved from closure

While there will still be closures if the rumours of a Hilco buyout of HMV this afternoon take place, some of the outlets previously earmarked for closure will now be saved, with a final tally of stores kept open expected to be around 140. Update: It’s now been confirmed by …

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HMV removing closing signs, possible buyout imminent

HMV Gloucester

It’s thought that with HMV’s rental payment looming, someone or some entity is going to swoop in and save it, as a few stores have begun removing “closing down” signs from their windows. The particular outlets that have got rid of the woeful signs, include: Stockport, Manchester Market Street and …

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HMV Guernsey enters administration

Guernsey

One more arm of the high street media retailer HMV has now entered administration. Guernsey may not be the biggest market, but it’s another tumbling domino that paints a bleak future for the shop chain. Unfortunately for those that are employed in the Guernsey store, the single outley was used …

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Hilco puts HMV bid on table

HMV

HMV has until the end of this month to get some funds together or go under completely. Fortunately it looks like Hilco, the company that bought up HMV’s debt back in January, is not putting up the cash to take the beleaguered firm off the chopping block. £50 million is …

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More HMV store closures announced

Deloitte, the administrator for beleaguered tech firm HMV, has announced the closure of another 37 outlets, meaning another 464 staff will be let go in the process. This brings the total number of shuttered stores to over 100, on top of the closure of all ROI outlets. This latest move …

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HMV lays off 60 at head office

HMV

Following on from yesterday’s story that administration firm Deloitte was set to shut 66 HMV locations around the country, we now have more details on which ones those will be and we’ve just heard that as many as 60 staff at the company’s head quarters will be let go as well. One …

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HMV set to shutter 100 stores

Following on from the recent debt buyout by Hilco, the owners of HMV Canada, it has been announced that the UK arm of HMV will be shutting up to 100 stores in the near future, putting 1500 jobs at risk. It may not be the full amount as it’s thought …

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Hilco saves HMV

HMV

For those of you that were feeling sad and nostalgic for the long time high street retailer HMV, fret not, as Hilco, the company that bought up HMV Canada a couple years ago, has now stepped in and put the brakes on HMV’s demise and has promised to restructure and …

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Blockbuster closing 160 stores

Blockbuster

The administration firm for Blockbuster, Deloitte – which is becoming more of a household name at this point than the companies it’s administering – has announced that 160 Blockbuster stores will close. “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure …

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HMV accepting gift vouchers once again

If you tore up your HMV gift vouchers in disgust since the announcement that it would no longer be accepting them due to its administration, you’re about to get more annoyed, as they’ve just been reinstated by administrator Deloitte. When it was initially announced that vouchers could no longer be …

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GAME looking to buy up HMV locations

Despite suffering through its own administration less than a year ago and ultimately closing half of its outlets and letting go a big portion of its staff, GAME is apparently looking to buy up HMV locations in a move to expand current business. Revealed by GAME boss Martyn Gibbs in …

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Blockbuster will enter administration

Blockbuster

As if anyone didn’t see this coming. If GAME, HMV, Comet, Jessops and more could go under – the former admittedly only temporarily – then Blockbuster was surely not far behind. As parodied in the South Park episode A Nightmare on Facetime, nobody rents DVDs any more – at very …

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Jessops in administration – shutter closes

One of the oldest camera retailers in the world is desperately on the ropes. KitGuru takes a look at Jessops’ predicament and likely outcomes. Established in 1935 by Frank Jessop in Leicester, more than 2,000 people work for the chain and all of their jobs are now at risk. The …

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Comet dying due to Deloitte’s doomsday deal?

When a company enters administration, one of the first things they do is blow out any remaining stock to get cash in – so that the business can be kept alive while a rescue plan is put in place. Comet seems to be going with a different strategy. KitGuru drives …

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Comet likely to enter administration

Comet

High street electrical retailer Comet, is looking likely to enter administration sometime in the next week, putting more than 6,000 employees at risk of losing their jobs. Comet has been struggling for a while now, though it was thought when it was bought by OpCapita just less than a year …

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Multiple UK system builders getting washed away?

Back in the nineties, computer companies were opening up all over the place and everyone seemed to know someone who was working in the UK system building industry. Now things are very different. As news of a spate of closures reaches KitGuru, we look around to see who’s fallen and …

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