January 21, 2013 3.17 pm This story is over 136 months old

HMV confirms it will honour gift vouchers

Valid vouchers: HMV’s administrators announced stores will be accepting gift vouchers from Tuesday.

Lincolnshire residents with HMV vouchers will be able to use them in store, after administrators confirmed the chain will honour them from Tuesday, January 22.

HMV announced it would go into administration last week, putting a number of jobs in Lincoln at risk.

Besides the HMV store on Lincoln High Street, the chain has shops in Lincolnshire in Boston and Grimsby, and also in Scunthorpe in North Lincolnshire.

HMV will also pay proceeds made by the sale of charity releases, like the Hillsborough Justice Collective single, in full as soon as possible.

Nick Edwards, Joint Administrator from Deloitte, said: “The ability of administrators to honour gift vouchers will depend on the specific circumstances of each case.

“Since our appointment as joint administrators [last] Tuesday, 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. I can also confirm that all money raised by HMV for various charities will be paid in full.”

He added: “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.”

HMV blamed poor sales in the run up to Christmas for its problems, plus growing competition with the online market.

It is still not known if or when stores will be closed down as a result.