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Market managers waiting for HMV's keys

Market managers waiting for HMV's keys

Thursday 07 February 2019

Market managers waiting for HMV's keys

Thursday 07 February 2019


The managers of Guernsey's Market Buildings say they've already had some interest from other businesses who want to move in to the prominent shop where HMV is, now it has shut for good.

The doors to the music retailer, at the entrance to the Market area, remain locked while decisions are made about clearing the store and shipping the stock back to the UK.

It has been shut since Tuesday morning when a sign was put up saying 'closed until further notice' with a chain later being wrapped around the door handles.

 HMV_closed.jpg

Pictured: The sign was put on the front of HMV at around 09:30 on Tuesday morning. 

It was announced on Tuesday that Canadian firm Sunrise Records had bought the collapsed music chain, saying it would buy 100 of its stores out of administration, securing 1,487 jobs.

But Guernsey's was one of the 27 remaining sites that were closed immediately, with the loss of seven local jobs.

Administrators KPMG also confirmed the branch on Oxford Street, London, was to close despite it being the first HMV store.

HMV

Pictured: There has been no sign of any movement at Guernsey's HMV store since the announcement it was closing earlier this week.

The Guernsey branch of HMV is one of the flagship brands within the Market Buildings, which are managed by Bailiwick Estates. 

The markets were redeveloped once the traditional stalls had all closed and moved out, with HMV one of the first of the UK brands to take on a lease, in 2006. New Look was the first, and still occupies its same site, while Holland and Barrett is another well established national chain there.

Director of Bailiwick Estates, Sonia Taylor, said now the firm is in administration, KPMG is managing things. Ms Taylor said the administrators will have to discuss and oversee the clearance of stock and other matters before returning the keys, but she is confident another company will take the lease on.

"We've already had various people interested in the retail space," she said.

"It's a bit of a shock, but retail is the way it is. You've got to move forward."

She said while the Guernsey branch of HMV was doing well, that wasn't enough in the grand scheme of things.

"The store turnover itself is good, but that isn't enough in Guernsey, when you've got to consider the cost of brining goods to the island and the cost of staff."

HMV's Guernsey branch had moved into the Market in 2006, and had recently signed a new ten year lease which would take them to 2025.

Pictured top: HMV is now closed until further notice. 



 

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