It’s a sad day for the Canadian music industry, as HMV Canada will be closing its 102 remaining stores by April 30th.
After closing its UK stores in 2013, HMV Canada seemed to be safe for the time being. However, it seems HUK 10 – the company which lent money to the chain – has received no cash payments since November 2014 and is owed nearly $39 million.
The company was losing approximately $100,000 daily according to court filings, showing the unfortunate effect of our transition to digital. Many music fans are mourning the loss of the chain, as they wonder where they’ll find albums from their favourite bands without having to incur online shipping costs.
Most knew HMV for their retail angle, selling CDs, vinyl, DVDs, and assorted merchandise. However, there is a large faction of fans who’ve spent hours camped out in front of HMV locations nationwide, waiting for a chance to meet their favourite bands. From signings to acoustic performances to consistently rushed meet & greets, HMV has brought a lifetime of memories to those who braved the elements to take part.
The best we can hope for now are some good sales so we can gather to say our goodbyes with one last vinyl haul. HMV will definitely be missed in the Canadian landscape.
Where will you do your music shopping now?
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