HMV gift card holders can now heave a sigh of relief as the music retailer’s administrators Deloitte have announced that from today customers’ gift vouchers will be honoured. Around £7m worth HMV gift cards, that were rejected last week, will now be accepted after HMV’s administrators completed the financial review of the collapsed retailer.
Last week when HMV fell into administration, Deloitte announced that the gift vouchers would not be honoured which led to a public backlash because HMV had continued selling the gift cards after warning investors in December that the group expected to face insolvency by the end of January. HMV had kept accepting gift cards up until the afternoon of January 14, the day before it formally fell into administration. However, on Monday it emerged that a consortium led by Hilco was making efforts to save the doomed HMV.
The move to accept HMV gift cards was welcomed by customers who mounted a high-profile campaign to convince the administrators to reinstate gift voucher purchases. A few members of the public even took to Twitter to create hashtags as a way for customers to share their memories of browsing and buying music from HMV stores.
Deloitte had earlier refused to honour gift vouchers of Comet, when the electrical chain had fallen into administration, but later on did a U-turn. But unfortunate were the members of public who held vouchers of camera retailer Jessops, as the chain did not honour any gift vouchers of customers when it collapsed.