Tuesday, January 15, 2013

Woking HMV RIP

So what many of us have expected has happened, HMV have called in the vultures administrators, who will be trying to raise their considerable fee by flogging of the remaining assets.

Its sad. But its also profound - in Woking its the last music and entertainment shop ( with the exception of one of Game's outlets continues, for now ).

It also shows the risk Woking borough council took when on when it bought the Wolesley Shopping centre, spent millions refurbishing the town square and no plans on spending £70+ million for a development that will bring back M&S.

Of the two shopping centres in Woking - both have many gaps for closed stores, but the one the council used cheap central govt loans to beat of the private sector investor for is doing worse. ( Even though Woking's population has been sky-rocketing with mass immigration from Eastern Europe. )

I wonder if Woking councillors remember seeing this risk listed when they decided the cheap loan from central govt would allow them a nice little earner for the council ? What if shopping changes and the same number of stores aren't required any more ? How's the 'investment' paid for by debt doing then ?

I'm sad to see HMV in Woking under threat. The staff are great and I love looking around the store. But some time before Christmas I looked around and it was only the over 40's in there at the time. Those of us for whom looking round a record shop was the highlight of our pre-internet weekend trips. So they were always in trouble. I hope they find a way out of it.

Update: Perhaps soem HMV stores will survive - which will be a relief to many men. The BBC explains why in an unusually ( for them ) perceptive article.

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