HMV's Latest Sale Possibly a Make or Break Cash Grab

By Gary Cutlack on at

HMV's latest sale is apparently critical to its survival, with sources claiming its new Blue Cross Sale is designed as a last-gasp attempt to raise money to meet its banking commitments.

ITV News' Laura Kuenssberg made the claim on Twitter, saying that HMV's newest January sale, which starts tomorrow, is not a "standard January sale" but is an attempt to shift stock and "generate cash to meet bank covenants." If people don't buy cheap headphones and CDs in big enough numbers, it might be in big trouble.

HMV's web site is one enormous BIG SALE banner advert at the moment (pictured above), with the retailer flogging off DVDs and Blu-rays on the cheap. We're not quite in every-thing-must-go fire sale territory yet, but it's surely not too far away for the struggling high street chain. [Cnet]