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Wednesday, January 16, 2013

HMV Goes Bankrupt!


The first time we mentioned HMV on Engadget was back in 2009, when the British retailer discounted the PSP Go -- ironically, one of the earliest devices to do away with disc-shaped media. As the picture above shows though, HMV's history goes back much further than that. Its first store opened in 1921 under an elaborate neon sign featuring the company's emblem of a dog listening to a gramophone beneath the words "His Master's Voice."
Fast forward to today and the old-school seller has suffered gravely from the same online shift that has affected many others. It has called in administrators after failing to negotiate new terms over its bank debt, and unless a buyer steps up to take over the chain's 240 stores then as many as 4,350 people will be let go.