HMV no longer issuing or accepting gift vouchers

Troubled U.K. retail chain HMV will no longer issue or accept gift vouchers, the company announced, as it assesses its future and begins the search for potential buyers following news of the chain going into administration.

The retailer, however, "would intend to follow through on [pre-orders]," PR head Gennaro Castaldo told Eurogamer.

But this will naturally depend on the stores remaining open and suppliers remaining willing to provide stock.

"We're doing our very best to continue operating as per normal," Castaldo went on to say. "There are a couple of areas such as gift cards where unfortunately we can't do that, but effectively we've got new owners now and when you get into an administration it can impact on vouchers and gift cards. But everything else we're doing our best to continue as normal."

Yesterday, it was announced financial services firm Deloitte will now run the retail giant as it attempts to secure a buyer. Stores currently remain open throughout the U.K. and Ireland; however, trading of shares on the London Stock Exchange is suspended.