HMV administrator Deloitte has announced that the faltering retailer’s stores will now start accepting gift vouchers from today. As previously reported, there was much controversy about the decision to stop accepting gift vouchers as soon as HMV called in the administrators, even though that is fairly standard practice when retail firms go into administration.
Many customers felt that they had been duped because HMV continued to sell the vouchers over the Christmas period and all the way up to the company falling into administration a week ago, even though the company’s directors knew the firm was on the brink, and there was therefore a real chance vouchers could not be redeemed. HMV vouchers being a popular Christmas gift only added to the disappointment and anger.
In a statement yesterday Deloitte’s Nick Edwards said: “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 company’s financial position. I am pleased to confirm that, having concluded this assessment, we are able to honour gift cards”.
He added: “I can also confirm that all money raised by HMV for various charities [including through sales of the Justice Collective single] 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”.
Currently promotional vouchers and loyalty cards are still not being accepted in stores, and are unlikely to be during administration.
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