My understanding is that you are getting Read failure error when trying to run diagnostics from BIOS either to memory or hard drive. Which ever device test is generating this error, that device failed and need to be replaced.
I am an HP employee.
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My wife's laptop had this issue. I could hear the drive spinning but it was getting the read error from the Bio system check.
I removed the harddrive from the laptop (3 screws - very easy thanks HP)
Then connected the harddrive to my powered off HP desktop, (if you need help with that you will need to google it.)
Booted my desktop and in post found and chdisk scanned the attached external hard drive finding and isolating several bad sectors. One the pc finsihed coming up I was able to copy her files to the desktop.
I did put the drive back in the laptop, which worked, but we ordered a new hard drive.
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