Tag Archives: administration

Box.co.uk is one of the better known UK-based PC retailers, having been bought out for an impressive £100 million last year. Unfortunately, it seems as though the company has run into legal troubles, forcing them to go into administration. As reported by eTeknix, in the wake of the £100 million …

While the decision was eventually reversed, HMV garnered a lot of criticism during its first administration back in 2013 for refusing to accept gift cards as method of payment. It looks as though the retailer isn’t making the same mistake twice, as HMV falls into administration for a second time. …

UK entertainment retailer HMV hasn’t had the easiest ride, having collapsed into administration back in 2013 until its inevitable rescue by restructuring company Hilco. Although the firm has been faring better in recent years thanks to its expansion into various different markets including electronics, the unmaintainable nature of diminishing DVD …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …