Good news for those looking to redeem vouchers at beleaguered music emporium HMV.

As widely reported, the British retail institution was taken over by Deloitte last week, putting 4,500 jobs across its 247 stores under threat. Reports suggested that millions of pounds worth of gift vouchers, many of which had been bought as Christmas gifts, were now void as a result.

As NME report, HMV have now promised to honour any outstanding vouchers as of today. According to Deloitte’s Nick Edwards: “We will continue to assess the longer term options for the business whilst continuing to trade. I am hopeful this process will result in the business continuing as a going concern”.

In another bit of rather miserable news, it transpires that HMV still owes money to the Hillsborough Justice Collective, who scored a Christmas No. 1 with their charity version of The Hollies’ ‘He Ain’t Heavy, He’s My Brother’. Edwards stressed that the charity would also now receive its money.

Yesterday, a coalition of major labels joined forces to produce a rescue package for the company. Universal Music, Sony and Warner Music promised a range of incentives, including more flexible credit arrangements and a reduced rate on product. HMV’s website has now disappeared from the web.