The times, they are a-changin’. Headlines in every major newspaper foretell the supposed “death of the high street” and a certain bakery chain has caused a strange mixture of delight and outrage with the unveiling of its new vegan Quorn sausage roll. For music and media retailer HMV, it looks like a rescue operation is going to be required for the second time in six years to save the company from bankruptcy, after it was announced the company had fallen into administration just after the Christmas period.
Back in 2013 the company was saved by restructuring giant Hilco, but even the efforts of a £50m deal with Hilco doesn’t seemed to have helped in the face of plunging sales and an “extremely weak” festive trading season. Of course you have to empathise with the 2200 employees of HMV and FOPP who’s jobs may be on the line in the months to come, but this news comes as little surprise from a company that hasn’t kept up with the demands of changing times, writes Penny Anderson in the Guardian.