HMV Still Accepting Gift Cards Despite Administration

HMV In Administration

Last week we reported how UK retailer had entered into administration for the 2nd time in just over 5 years. It represented yet another example of how the high street was struggling to compete. Particularly in today’s world of online shopping/retail. It was something of a coincidence that this 2nd administration so closely replicated the first in that the announcement came just after the Christmas period.

It did, however, lead also to some concerns whether the store would honour any gift vouchers purchased. In a report via Eurogamer, the good news is that the store is still honouring gift vouchers, but you might want to use them quickly!

Why The Concern?

When the store first entered administration in 2013, you may recall the uproar surrounding vouchers. Specifically, that despite the administration coming just days after Christmas (a period in which a voucher is usually a very convenient gift) the store was not honouring them. It led to an estimated £100m of customer ‘credit’ being essentially wiped out. As such, this latest administration, coming at almost exactly the same time of year, sparked similar concern.

Spend Them Quickly

As of yet, there have been no staff terminations or store closures. With the company in the hands of administrators though, this situation could change very rapidly. As such, purely from a consumer level, if you do have any vouchers we would recommend that you use them sooner rather than later. If the chain does go under or change ownership, you might find any credit deemed worthless overnight!

What do you think? – Let us know in the comments!