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Growing-up pretty much at HMV at Scarborough Town Centre every Tuesday when new releases would come out, I never thought I’d live to see the day when the Music retailer would be struggling, but it is now and times certainly have changed. It was announced today that Canada’s 121 HMV stores have been sold for a paltry $3.2 million.
Hilco UK, which is an expert in Business Restructuring bought HMV Canada on the condition that it will invest $25 million to make improvements in helping it adapt to the current marketplace with Consumers now purchasing their Music and Video digitally.
I’m still v. Old School and actually like having a Physical Product in my hand versus a file in my Hard Drive. Crossing fingers this works out. Long live HMV!
I’m still v. Old School and actually like having a Physical Product in my hand versus a file in my Hard Drive. Crossing fingers this works out. Long live HMV!
I hope this works out. I have always looked forward to shopping at HMV when I've visited Toronto, so this is a big deal to me. Honestly, it's as much about re-educating the buying public as it is about fixing the product mix. Here's hoping the new company can stop the bleeding and turn things around.
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