{"id":6569,"date":"2012-12-13T20:37:17","date_gmt":"2012-12-13T20:37:17","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=6569"},"modified":"2022-06-09T12:25:47","modified_gmt":"2022-06-09T11:25:47","slug":"hmv-still-in-big-trouble-financially","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/hmv-still-in-big-trouble-financially\/","title":{"rendered":"HMV Still in Big Trouble Financially"},"content":{"rendered":"

\"hmv<\/p>\n

Even after selling the Hammersmith Apollo and the Mama Group it seems as though HMV are still in trouble. HMV’s total sales were down 13.5% to \u00a3277.6 in the six months to October 27 this year (2011: \u00a3333.7m).<\/p>\n

The retail group has admitted in a new interim trading statement that it will be forced into a “probable” covenant breach of its banking at the end of January 2013<\/p>\n

It said: “Current market trading conditions result in material uncertainties facing HMV… Constructive discussions with the Group’s banks including keeping them fully informed in relation to current trading.”<\/p>\n

Chief Executive Trevor Moore said: “HMV has had a difficult first half. However, the business has started to deliver a number of new initiatives which will help to maximise the seasonal sales opportunity and provide a platform for growth in 2013.<\/p>\n

“Additionally, as we trade through this period we will continue to develop further initiatives with our suppliers and I will provide updates at the appropriate time.”<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Even after selling the Hammersmith Apollo and the Mama Group it seems as though HMV are still in trouble. HMV’s total sales were down 13.5% to \u00a3277.6 in the six months to October 27 this year (2011: \u00a3333.7m). The retail group has admitted in a new interim trading statement that it will be forced into a “probable” covenant breach of its banking at the end of January 2013 It said: “Current market trading conditions result in material uncertainties facing HMV… Constructive discussions with the Group’s banks including keeping them fully informed in relation to current trading.” Chief Executive Trevor Moore…<\/p>\n","protected":false},"author":32,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[1090,3837],"acf":[],"yoast_head":"\nHMV Still in Big Trouble Financially - RouteNote Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/hmv-still-in-big-trouble-financially\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HMV Still in Big Trouble Financially - RouteNote Blog\" \/>\n<meta property=\"og:description\" content=\"Even after selling the Hammersmith Apollo and the Mama Group it seems as though HMV are still in trouble. HMV’s total sales were down 13.5% to \u00a3277.6 in the six months to October 27 this year (2011: \u00a3333.7m). 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