HMV Ireland
 |
|
| Entertainment Retailer | |
| Industry | Retail |
| Founded | 1986 |
| Defunct | 30 August 2016 |
| Headquarters | Dublin , Ireland |
|
Area served
|
Ireland |
| Products |
Books Video games Film Television Games Magazines Music Fashion Technology Merchandise Cinema Ticketing |
| Owner | Hilco Capital England |
|
Number of employees
|
expected 120 |
| Subsidiaries | Xtra-vision HMV |
HMV Ireland, was an entertainment retailing company operated in Ireland by Hilco Capital Ireland The company was first established by HMV Group Plc as part of their international expansion into Ireland and Canada in 1986. The first store in Ireland established was at HMV on Grafton Street in Dublin (closed since February 2013, reopened in new location in 2014, a different location in 2015 and closed again in 2016).
HMV established its first store in Ireland in 1986 following HMV's expansion from the UK to Canada and Ireland. The first store to open was HMV on Grafton Street which has been famous for numerous Irish acts performing live at the store. The retailer expanded in Dublin with a second store on Henry Street and than followed with expansion into Cork in the late 1980s before moving into Limerick City in the 1990s. The retailer expanded with stores in the Greater Dublin region, Galway, Kildare and Galway in the early to mid -2000s.
On 5 February 2011 HMV Ireland announced that its profits had fallen by almost 90% to €465,000, compared to €4.1 million the previous year.
Following increased pressure from high rental rates in Ireland, increased legal and illegal downloading and competition from online retailers in January 2013 HMV's parent company HMV Group plc went into administration in the United Kingdom, potentially affecting its operations within Ireland, Hong Kong and Singapore. In January 2013, its 16 stores in the Republic went into receivership and as a result its Irish subsidiary ceased trading with the loss of 300 jobs. On 15 January 2013 HMV Ireland refused to accept HMV vouchers within its stores following HMV UK's administration, although HMV Ireland was a separate entity to the UK operation. The refusal of vouchers proved controversial for staff and customers, leading to speculation that HMV Ireland would also enter administration.
On 16 January 2013, HMV Ireland declared receivership, under Irish law; companies in receivership must close its stores with immediate effect and all Irish stores were closed until further notice. Deloitte Ireland was appointed receiver and are reportedly seeking a buyer for HMV's Irish stores. The National Consumer Agency in Ireland questioned the legal basis on which HMV in Ireland refused to honour gift vouchers and this criticism was later supported by accountancy agencies claiming that HMV Ireland Ltd. was not part of the HMV UK administration and refusal of vouchers was unlawful prior to receivership. Since HMV Ireland's announcement of receivership staff located at HMV stores in Limerick and Cork refused to leave the premises based on the uncertainty whether they will get paid for December and early January. Deloitte confirmed on 19 January that all staff would be paid what they were owed, and that it was attempting to sell the Irish stores. It was confirmed on 12 February 2013 that all stores within Ireland are officially closed with immediate effect and HMV has left the Irish market place. It resulted in the loss of 300 jobs.
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