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HMV Insist There Is No Ulterior Motive To Blue Cross Sale

Published January 14, 2013 by |
HMV Blue Cross Sale

The blue cross sale currently taking place online and at over 230 HMV stores across the UK and Ireland, is not part of an effort to raise funds for their upcoming debt deadlines, according to the retailer.

The UK-based retailer, which has had a succession of financial troubles in the last twelve months, is set to cut prices by up to 25% on a range of its CDs, DVDs, books and games. It’s an all-encompassing game sale, with titles such as Uncharted 3 and Gamebrit’s Handheld Game of the Year, LittleBigPlanet Vita seeing price cuts. There’s also an odd looking “Donkey Kong” plush on sale.

ITV business reporter Laura Kuenssberg speculated via her Twitter account, where she questioned the companies motive for the sale following its announcement last week.

Laura Kuenssbeg Tweet

HMV were quick to dismiss the claim however, with their head of press and PR, Gennaro Castaldo, telling PCR that the claims were unfounded:

“We just thought we’d try something a bit different,” said Castaldo. “It’s a purely commercial event at a time of year when retailers have sales and promotions.”

HMV announced in December that in trying to rectify its continuing debt is was at risk of breaching the conditions of the loan agreement it made in order to remain in business. Although the announcement of the sale is questionable following recent news, it does fit into the companies pathos of holding sales at any point throughout the year.