HMV Marshes return unlikely

HMV Marshes return unlikely
The manager of the Marshes Shopping centre says he yet to receive any confirmation that a Canadian company are to buy HMVs Irish stores, and that he not been contacted regarding the struggling retailers store in the Marshes.

The manager of the Marshes Shopping centre says he yet to receive any confirmation that a Canadian company are to buy HMVs Irish stores, and that he not been contacted regarding the struggling retailers store in the Marshes.

Ironically the man at the helm of the company taking over the beleagured HMV group is Ardee resident Paul McGowan.

Last week it was suggested that it was increasing likely that a number of the retailer’s store would be reopened in the Republic, and it was hoped that Dundalk maybe one of them.

Harry Traynor told the Democrat however that it was more likely that they would reopen stores in higher catchment areas, such as Dublin and Cork.

“I’d imagine that Hilco will look towards area of with significant catchments, such as city centres,” said Mr Traynor. “I personnally am yet to receive any correspondence or even a comfirmation that Hilco are buying the Irish stores.”

Mr Traynor says it not inconceivable that they could turn the Dundalk store into a successful outlet.

“Hilco are specialists are turning this sort of retailer around, by focusing on their core market, that being DVDs and CD sales. They have a proven track record of success.

“The market is definitely still there. While there are so many more streams by which to consume media now, there is still a core market. In Dundalk here you would have DkIT and a healthy young population.

“It also has an effect on surrounding business. There would be a loss of footfall loss in footfall to that end of the centre and retailers have felt that.

“I would imagine that Hilco will look at their overall operating costs and look to stores they believe will they can make an investment back.”

It is thought that Hilco will look to rental costs as a possible avenue to reduce costs.

“They may well want to return but to a smaller space in the centre. The centre is always prepared to talk to retailers on these matters.

“I think landlords realise that the market is not what is was ten to twenty years ago. You are no longer seeing 99 year lease. You are now seeing five to ten year leases.”

Hilco had been the frontrunner to become the new owner of HMV since soon after Deloitte was appointed as administrator at the end of January. Initially brought in to manage the retailer’s business alongside Deloitte, the restructuring firm acquired HMV’s debts just days later.