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!
It has just been announced that Blockbuster UK, the video rental chain has also gone into administration putting at risk over 4,000 jobs.