HMV Canada Goes Bust, Set To Close All 102 Stores

HMV Canada Goes Bust, Set To Close All 102 Stores
HMV Canada Goes Bust, Set To Close All 102 Stores

HMV Canada is the latest victim of the digital era as the bricks-and-mortar music retailer is set to close all of its 102 locations across Canada.

The company was put into receivership in Ontario Superior Court Friday with the majority of its head office staff laid off, according to the Financial Post.

The CBC reported HMV was losing $100,000 a day and owes HUK 10 Ltd. close to $39 million.

Gordon Brothers Canada ULC and Merchant Retail Solutions ULC have been appointed to sell HMV’s remaining merchandise.

Legal documents obtained by CP state all stores must cease operations by April 30.

Image via Wikimedia

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