HMV hits bankruptcy after 91 years in the discselling business

The first time we mentioned HMV on Engadget was back in 2009, when the British retailer discounted the PSP Go -- ironically, one of the earliest devices to do away with disc-shaped media. As the picture above shows though, HMV's history goes back much further than that. Its first store opened in 1921 under an elaborate neon sign featuring the company's emblem of a dog listening to a gramophone beneath the words "His Master's Voice."

Fast forward to today and the old-school seller has suffered gravely from the same online shift that has affected many others. It has called in administrators after failing to negotiate new terms over its bank debt, and unless a buyer steps up to take over the chain's 240 stores then as many as 4,350 people will be let go.

According to Metro, the many HMV gift vouchers that would have been given and received over Christmas are now effectively "worthless." On the other hand, the British personal finance guru Martin Lewis reckons gift vouchers shouldn't be thrown away as they may be redeemable one day, or there may be a chargeback option if they were purchased with a credit card.

[Image credit: London Express / Getty Images]

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HMV goes bankrupt after 91 years in the disc-selling business