A giant HMV liquidation sale kicks off on Thursday in Wan Chai as the failed retailer’s liquidator tries to recover some cash to return to creditors.
Wong Sun-keung of Vision AS, who is overseeing HMV’s liquidation, had originally planned to sell several containers-full of stock recovered from shuttered stores by way of a tender. However he says the prices submitted by 10 bidders were so low, it was decided to proceed with an HMV liquidation sale instead, despite the high overheads of leasing space and hiring staff.
Vision AS says 50,000 DVDs will go on sale along with 20,000 music CDs, 24,000 Blu-ray discs and 9000 vinyl records. The remainder of the stock includes headphones, iPhone and tablets and other electronic goods.
The HMV liquidation sale will run from August 15 to August 29 at W Square in Wan Chai. Doors will open between 11am and 9pm.
Former employees of the company and creditors will have access to a restricted presale on Wednesday night.
It is expected that only cash will be accepted as payment.