HMV has gone into administration today, and is now refusing to accept gift vouchers.

The Gazette spoke to Andy Brown, 33, from Brookvale, who has HMV vouchers left over from returning an unwanted Christmas present. He said: “HMV still has products for sale in store, so why can’t I use my voucher to pay for them?”

The simple answer is that vouchers are a promise from a company, but if that company changes hands, or collapses, the customer has no rights.

Last year, Martin Lewis, founder of MoneySavingExpert.com, warned against buying vouchers as Christmas presents because of the risk of losing them if the company goes into administration.

He said that money used to buy vouchers is not protected, and those with vouchers are classed as creditors, meaning, by law, they must take their place alongside everyone else owed money by the company. And because voucher-holders are unsecured creditors, they usually find themselves at the back of the queue.

However, Mr Lewis advised HMV customers today not to throw away their vouchers as there could be some hope of using them.

It is not the first time customers have found themselves out of pocket following the collapse of a high-street store. JJB, Peacocks and Game all refused to take gift vouchers when they went into administration, and last week, camera chain Jessops did the same.

Do you work for HMV in Basingstoke? Call Emily Roberts on 01256 337410, email emily.roberts@basingstokegazette.co.uk or Tweet @erobertsgazette