HMV pins hope on FIFA 13 and Skylanders as it battles through winter

[Administrator]

HMV is pinning its hopes on big Christmas sales of FIFA 13 and Skylanders as it battles through the toughest winter in its history.
Its share price fell an incredible 40 per cent yesterday after its boss warned it may not be able to continue trading in the near future. HMV's cashflow was negative by £9.4 million at the end of October following a surplus of £7 million last year. HMV is in debt by some £180 million.
Chief executive Trevor Moore said HMV may not meet its sales expectations for the year to April 2013 and, as a result, the terms of its bank loans will likely not be met in January and again in April.
Read more…


More...