HMV TIMELINE

The HMV collapse and rebuild timeline

Follow CMU’s coverage of the collapse and subsequent build of HMV | CLICK for more timelines


HMV REVIEWED AS SIMON FOX BECOMES CEO

July 2006
HMV appoints new top man

January 2007
Changes at HMV too – and the MD is going there too

March 2007
Major HMV review planned
HMV announces wide-ranging review

September 2007
HMV launches next gen store in Dudley

March 2008
HMV revamps and expansion

April 2008
HMV to open service station store

October 2008
HMV opens next gen store in London


HMV’s DIGITAL EXPERIMENTS

November 2007
HMV Digital drops subscription service

April 2008
HMV to go DRM free

June 2008
HMV launches blogging site

September 2008
HMV to launch MP3 store this month

November 2008
HMV launches MP3 store

September 2009
HMV to close GetCloser

July 2010
All new look HMV Digital launches

October 2010
HMV piloting third party online marketplace
HMV Digital becomes part of 7Digital site


UPS AND DOWNS IN FORTUNE

December 2006
HMV says trading conditions remain tough

June 2007
HMV confirms profits halved last year

September 2007
Growth at HMV

December 2007
HMV upbeat despite losses

January 2008
HMV’s fortunes turn

May 2008
HMV financials looking good

November 2008
HMV to pass on VAT cut

December 2008
HMV posts half year loss


DEMISE OF FOPP: HMV BUYS SOME FOPP STORES

July 2007
Fopp goes into administration
HMV may buy some Fopp stores, and maybe Fopp brand
HMV buys six Fopp stores

August 2007
HMV to acquire original Fopp


DEMISE OF WOOLIES & ZAVVI

November 2008
Woolworths goes into administration
More on Woolies

December 2008
Woolworths slashes prices
Zavvi calls in consultants to deal with financial and supply problems
Woolies to close in new year

January 2009
Retail Doom And Gloom Part One – Zavvi
Retail Doom And Gloom Part Two – Woolies
Retail Doom And Gloom Part Three – Any silver lining?
HMV snaps up 14 Zavvi stores
More Zavvi stores close

February 2009
Zavvi to go, HMV buys more stores, so does a thing called Head

October 2009
HMV considering acquiring the flagship Megastore, possibly


DEMISE OF BORDERS UK

November 2009
Is Borders on the brink?
Borders goes into administration

December 2009
Borders starts closing down sales
Borders could be gone by next week
Borders is no more


FOX PURSUES DIVERSIFICATION STRATEGY

April 2009
HMV music sales up, but continue to diversify

March 2010
Diversification to continue at HMV: Bring on the catwalk

May 2010
TGE: HMV chief on diversification, iTunes and extending his brand


DIVERSIFICATION: 7DIGITAL ACQUISITION

September 2009
HMV buys 3.5digital


DIVERSIFICATION: MOVE INTO LIVE VIA MAMA ACQUISITION

January 2009
HMV moves into live music with the help of MAMA

June 2009
Polydor, HMV and Mean Fiddler collaborate on album launch

December 2009
HMV to bid for MAMA Group?
MAMA Group profits up up up
HMV makes bid for MAMA

January 2010
HMV’s rival bidder for MAMA steps down

February 2010
HMV’s MAMA offer now unconditional

March 2010
Post-takeover changes begin at MAMA, Driscoll departs
More MAMA movements

May 2010
HMV commercial chief moved into MAMA


MORE UPS AND DOWNS IN FORTUNE

February 2009
Traditional music retail continues to decline

April 2009
HMV music sales up, but continue to diversify

May 2009
HMV launches loyalty card

July 2009
HMV reports healthy profits

September 2009
HMV to open temporary stores for Christmas rush

January 2010
HMV sales up
Some HMV pop up stores to stay

February 2010
Report says City still cautious about HMV future

March 2010
Might private equity buy HMV?

April 2010
HMV retail sales down

June 2010
HMV share price up, are private equity bid rumours credible?
HMV sees sales and profits rise

September 2010
HMV sales down – blame the football, I say

November 2010
Vote of confidence from Russian billionaire, new TM for fashion future
HMV to shut one of its Oxford Street stores


SALE OF WATERSTONES AND HMV CANADA

July 2010
What will HMV do with Waterstones?

December 2010
Russian business man increases HMV stake

March 2011
HMV may be considering Mamut’s Waterstones bid
HMV will propose to banks it sells Waterstones
More speculation about Mamut HMV bid
HMV considering sale of Waterstones and Canadian arm

May 2011
HMV close to deal on Waterstones sale
HMV sells Waterstones to Mamut

June 2011
HMV sells Canadian stores

April 2013
HMV Canada launches download and streaming service

June 2013
HMV Canada still doing alright


FINANCIAL PROBLEMS BEGIN

December 2010
HMV losses widen

January 2011
HMV to close 60 stores as Christmas sales disappoint
HMV suppliers denied credit insurance
HMV consults KPMG over debts

February 2011
HMV store closures begin
HMV shareholder asks bankers to review firm’s options
HMV share price rises amid takeover talk
HMV’s lenders appointing advisors

March 2011
HMV admits it is likely to breach loan covenants
HMV preparing presentation for banks
HMV boss insists his company has a future on the high street

April 2011
HMV issues new profit warning
HMV looks to majors for better terms to help with cash woes

May 2011
Fox says HMV is back from the brink

June 2011
HMV close to securing new loan deal
HMV secures new loan agreements, but at a cost


FINANCIAL PROBLEMS WIDEN – STORE REVAMPS & GADGETS PUSH

June 2011
HMV profits down 61%

September 2011
HMV has difficult summer, but Fox still optimistic about store revamp

October 2011
HMV in talks to sell 7Digital stake
HMV launches consumer electronics push

November 2011
HMV launches stand alone gadget shop for Christmas
HMV launches bus stop stores

December 2011
HMV publishes gloomy figures, set for first ever year end loss

January 2012
HMV sales down as MAMA bidder speculation widens
HMV to increase music stock
HMV Group announces new supplier and bank deals

February 2012
HMV boss confirms less shelf space for games
Amazon biggest entertainment retailer in UK
HMV denies Amazon is now a bigger entertainment retailer


GAME GOES INTO ADMINISTRATION

March 2012
Game on the brink
Game suspends shares
Editor’s Letter – What would Game’s demise mean for HMV?


FINANCIAL PROBLEMS CONTINUE

May 2012
HMV increases entertainment retail market share slightly
HMV losses set to be higher than predicted

June 2012
Restructuring company possibly looking to acquire HMV debt

July 2012
Retailers criticise record industry’s release bunching
Amazon accounts for fifth of UK entertainment retail sales
HMV seeks to change LSE category

August 2012
HMV says it will return to profit after confirming losses
HMV to open test social store
HMV changes stock market listing
HMV phases out loyalty programme in favour of My HMV platform

September 2012
HMV shuts one of its Birmingham stores, but no more
Sales slip further at HMV

January 2013
Amazon increases lead in entertainment retail


SIMON FOX DEPARTS

August 2012
HMV boss to depart
HMV finance chief to depart too

September 2012
Former HMV CEO to head up Trinity Mirror


SALE OF MAMA

January 2012
MAMA bidders in talks with HMV
HMV sales down as MAMA bidder speculation widens

March 2012
MAMA Group sale enters second stage
HMV responds to MAMA sale speculation, sort of

April 2012
Sony reportedly bidding for HMV’s MAMA, as OpCapita buys Game UK
Key MAMA directors to depart as HMV sale goes through the motions
SuperVision managers launch new agency
MAMA managers to join Red Light Management, reports say

May 2012
Former SuperVision managers to launch Red Light London
AEG favourite to get the MAMA Group
HMV may keep hold of its festivals business for the time being

June 2012
AEG buys Hammersmith Apollo from HMV

July 2012
HMV shareholders back Apollo sale

December 2012
HMV sells MAMA Group


FINAL BATTLE FOR SURVIVAL

December 2012
Record companies and DVD firms backing HMV to tune of £40 million
HMV set to break loan covenants in January
Wall Street fund looking to force control over HMV
Universal faces £150 million liability if HMV goes under, says Telegraph
HMV lenders resisting Apollo approach


VIRGIN FRANCE DECLARES INSOLVENCY

January 2013
Virgin France to declare insolvency
Virgin France to declare itself insolvent today


HMV GOES INTO ADMINISTRATION

January 2013
HMV confirms company heading into administration
ERA and BPI issue statements on HMV administration
LVCR campaigners say VAT-dodging etailers killed HMV

March 2013
HMV debts revealed in Statement Of Affairs
HMV’s Guernsey company goes into administration
HMV debts topped £347 million at collapse

April 2013
Hilco’s HMV deal announced, some closed stores to reopen
HMV market share slips 1.5% in administration quarter


FALLOUT AND NEGOTIATIONS

January 2013
7digital boss says HMV administration will not affect business
Editor’s Letter – Can high street music escape His Master’s Void?
Indie distributors hopeful that impact of HMV collapse can will be reduced
HMV accepting gift vouchers again
WH Smith not interested in capitalising on HMV’s demise
Joseph buys HMV out of G-A-Y
Record sales up in January as HMV collapse rallies sales

February 2013
HMV administrators negotiate with labels over stock, 190 staff axed at HQ
ERA boss reckons more HMVs could close

March 2013
WH Smith brings back some CDs, but on a nominal tactical basis

August 2013
Unsecured creditors will see nothing from HMV administration


STORE CLOSURES AND JOB CUTS

January 2013
HMV shuts Irish stores as Blockbuster UK goes into administration
HMV staff in Limerick continue sit-in over wages

February 2013
HMV administrators negotiate with labels over stock, 190 staff axed at HQ
CMU Beef Of The Week #143: Ex HMV staff v HMV management
HMV store closures expected this week
HMV announces 66 store closures
60 more execs go at HMV HQ
HMV confirms Irish stores to stay closed
HMV announces 37 more store closures

July 2013
HMV replacement flips its sign to avoid trademark dispute


BIDDERS COME FORWARD

January 2013
Potential bidders come forward for HMV
Game interested in acquiring some HMV stores
HMV suppliers back Hilco rescue plan
Hilco acquires HMV debts
Hilco hopes to save HMV following debt purchase
Supermarkets interested in HMV stores not included in Hilco’s rescue plan

February 2013
Four supermarkets and pound shops amongst those bidding for HMV stores
Morrisons buys six HMV shops
HMV sells Asian shops

March 2013
Is ASDA a late bidder for HMV?
Hilco now the only HMV bidder


HMV SOLD TO HILCO

April 2013
Hilco’s HMV deal announced, some closed stores to reopen
Deloitte and Hilco comment on HMV sale, new CEO announced

February 2015
Advisors earn millions while creditors will receive little


THE NEW HMV IN THE UK: CHANGES

April 2013
Hidden Nipper in new HMV site
HMV to shed 400 jobs, reports The Times

May 2013
HMV PR chief moves to BPI
Hilco to appoint new HMV marketing chief this week

June 2013
HMV could return to its original Oxford Street site
HMV’s flagship store to become a Sports Direct

July 2013
HMV HQ moves
Tesco now second biggest entertainment retailer as HMV slips

August 2013
Hilco confirms HMV’s return to original Oxford Street store
HMV appoints new customer loyalty chief

September 2013
HMV appoints new marketing boss
HMV returns to original London store tomorrow

October 2013
HMV Chairman shares plans via NME blog post
Limited edition vinyl giveaways at HMV Oxford Street this week

November 2013
HMV relaunches loyalty scheme

December 2013
HMV confirms move away from gadgets

January 2014
HMV closes stores where more favourable rents not available
One less store closure for HMV, as last minute deal done

May 2014
HMV to downsize flagship Glasgow store

June 2015
HMV for some reason thinks vinyl can go mainstream again


THE NEW HMV IN THE UK: PERFORMANCE

May 2014
HMV and WH Smith come bottom in high street retailer survey

July 2014
HMV doing just fine, says Hilco boss

August 2014
HMV increases its market share

September 2014
HMV boss remains bullish
HMV scored profits of £16.7 million in year after administration

January 2015
HMV overtakes Amazon as UK’s biggest retailer of physical music

April 2015
Kantar figures confirm HMV biggest seller of physical music again

June 2016
Sainsbury’s crowns itself King Of Vinyl, HMV thinks it’s still top dog

February 2017
HMV in talks to depart Oxford Street, say sources


THE NEW HMV IN IRELAND

May 2013
Hilco in talks with former HMV landlords in Ireland

June 2013
HMV to return to Irish high street

August 2013
HMV brand to expand in Ireland thanks to Xtra-vision alliance

June 2015
HMV announces alliance with Tesco Ireland

July 2016
HMV to close Irish stores

September 2016
HMV owner responds after ex-staff affected by liquidation of Irish business


THE NEW HMV ABROAD

July 2015
HMV to expand into Middle East via licensing deal

October 2015
HMV planning international expansion of retail website


THE NEW HMV ONLINE

August 2013
HMV appoints new digital man

October 2013
HMV launches new download service
HMV’s new download app removed from Apple store
ERA supports HMV in Apple squabble
CMU Beef Of The Week #179: HMV v Apple

November 2013
Cut back HMV app available in Apple store

December 2013
HMV Digital app rolls out in Canada

February 2014
HMV download app coming to BlackBerrys

May 2015
HMV to return to mail-order


THE COLLAPSE OF HMV CANADA

January 2017
HMV Canada goes into receivership
HMV Canada boss discusses company’s collapse

February 2017
Independent music retailer plans to take over 70+ HMV Canada stores


Last updated: February 2017