By Leon J Williams
Failing music retailer business HMV has decided to shaft its customers by not honouring gift vouchers that haven’t currently been redeemed.
HMV is a British multinational company that after 90 years of operation has entered into administration, likely to be soon no more.
Over 4,000 jobs hang in the balance as yet another British High Street retailer collapses under the ongoing economic crisis, the by-product of capitalism.
Last week it was announced that Jessops (a camera retailer) was set to close down, making around 1,400 workers unemployed.
With companies going under left, right and centre where will these people find work, pay their rent and feed their families?
The right-wing British government is also cutting benefits to the disabled and unemployed meaning a downwards spiral for the working class.
Higher unemployment, failing businesses means less tax revenue for the government, which means the UK will find it harder to reduce national debt, which has been seen and admitted by the government when they acknowledged that it will take far longer than previously expected.
‘Austerity’ doesn’t work, we need investing in sustainable jobs not welfare cuts, service cuts, job cuts!
Update
It has just been announced that Blockbuster UK, the video rental chain has also gone into administration putting at risk over 4,000 jobs.
ACA The Underground 
What really annoys me is a retailer’s ruthless profit chase, charging for a product which is manufactured and pre-retail purchased for bargain, shameless retail prices aimed at reaching absolutely surreal target margins. It’s absolutely disgusting to see people being fooled into buying “promo” products twice more expensive than at normal prices elsewhere. I’ve dropped buying from HMV after I have found the same products much cheaper at ASDA for example…
Greed never pays…
On the other hand, I am so heartbroken for the thousands of suffering families, who are the true victims of the multi-million pound premium cashing top management’s careless business tactics. They should be held financially accountable for driving the company into bankruptcy…
I guess none of them will show up at job centres…
Yeah it is a failed business model in these times, the internet and supermarkets have changed the way we consume and they didn’t adapt quick enough.
As always it is the working class that suffers the most.
I’ve just updated the article due to news coming through about Blockbuster UK.
Yes, I just read the headline on the BBC feed…
Well, price greed, piracy and mindless file-sharing are taking their toll. They’re all interconnected; you don’t need to be a Nash to understand that when one box-office bluray is retail sold for aprox. 2% of a worker’s monthly wages, and one good computer game for aprox. 4% of the same, the virtually indestructible infrastructure of piracy based file-sharing has been securely laid.
Low income people, who are unfortunately the vast majority of large conurbations, rightfully feel that after a long day’s very hard work, in which they have created the top management’s yearly Bentley-worth salaries and premiums, they too have the right to watch a good movie or have their children play a good game…
The rest is well known history, with the tragic results seen…
Take care mate.
Rom