(The following press release from Deloitte was received by e-mail. It was
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Contact: Deloitte press office
020 7303 5054 / 07971 783533
21 January 2013
HMV Group plc, HMV Music Ltd, HMV UK Ltd, HMV (IP) Ltd and Fopp Entertainments
Ltd (together “HMV” or “the Companies”) – in administration - Update
The Joint Administrators to HMV today confirm that gift cards can be redeemed
in stores from Tuesday 22 January. Additionally, the Joint Administrators
confirm that proceeds raised by HMV through the sale of charity releases
(including the Hillsborough Justice Collective single) will be paid in full as
soon as possible.
Nick Edwards, Joint Administrator, commented: “The ability of Administrators to
honour gift vouchers will depend on the specific circumstances of each case.
Since our appointment as Joint Administrators on Tuesday afternoon, we have
been urgently assessing the Companies’ financial position. I am pleased to
confirm that, having concluded this assessment, we are able to honour gift
cards. I can also confirm that all money raised by HMV for various charities
will be paid in full. We recognise that both of these matters have caused
concern for individuals and organisations affected and are pleased to have
reached a positive outcome.
“We will continue to assess the longer term options for the business whilst
continuing to trade. I am hopeful this process will result in the business
continuing as a going concern.”
Nick Edwards, Rob Harding and Neville Kahn were appointed Joint Administrators
to HMV on 15 January 2013.
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