[WillowTheWhisp]

Originally Posted by lindsay ormerod

Well that's it; the receivers turned up at just after 9 am today,they cashed up the tills,took our keys and that was it. Accrington loses it's only specialist music store,6 people lose their jobs and yet again I am left pondering the way these things work. The stock is still in the store,we made a profit year on year,the company was performing well compared to HMV's £36 million losses in 6 months .We owed £2 million(so we have been told) How come they are still trading and we aren't???

That's a question that only Music Zone can answer. They must have been struggling to pay bills and felt that going into receivership was their only option. I know that's small comfort to those of you who have lost your jobs but how would they pay your wages if they didn't have anything to pay them with? Presumably the stock will be sold off by the receivers, along with shopfittings and any other assetts to pay the outstanding debts. Perhaps HMV think they can overcome those losses in the coming months and presumably they haven't yet got creditors hounding them for unpaid bills. They must be able to convince their bank to keep the overdraft going whereas MZ's bank could have bee demanding it be cleared in full. Maybe HMV will eventually come a cropper too.

It's madness in the world of economy. If we spend too much money we cause inflation and bank rate goes up and people end up losing their homes as they can't afford the mortgages. We spend too little and businesses go bust, people lose their jobs and end up losing their homes because they can't afford the mortgages.

Originally Posted by lindsay ormerod

No -one interested in the demise of your only music shop then???
Too late now;pay the bus fare to Blackburn or DOWNLOAD it and hammer the final nail into the coffin of music retailers. 6 hard working people out of job as of today;...go and ask 'em in Woolies/Asda/Tesco what was the last Beautiful South cd or "what's that tune on the advert with all them coloured balls?"

You will miss us now we are gone.

As you'll know from my previous posts in this thread I was far from uninterested and I'm not the only one. I have only just seen this post of yours, haven't been online much today nor last night as I had a lot to do.

I think it's a great loss to the town. I do wish you all well in being able to find other jobs but I can see your point of view that this town is going downhill fast. The more people there are out of work the the less money there is to spend and the more people end up out of work as a consequence. I wish I knew the answer.