Buzz People

HMV to honour gift cards despite going into administration

HMV will continue to accept customers' gift cards so long as stores keep trading, administrators KPMG have said.
It comes after the High Court appointed KPMG to run the music retailer, which collapsed for the second time in six years after a sharp fall in sales.
In 2013 administrators faced an angry backlash after initially telling customers their gift vouchers would not be honoured - before making a U-turn.
KPMG will try to keep all 125 stores open while a buyer is sought.
Will Wright, from KPMG, said: "Over the coming weeks, we will endeavour to continue to operate all stores as a going concern while we assess options for the business, including a possible sale.
"Customers with gift cards are advised that the cards will be honoured as usual, while the business continues to trade."
Whenever a company goes into administration, the decision on whether it should honour gift cards is down to the administrators, according to consumer publication Which?.
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