#hmv canada

[allthecanadianpolitics]

HMV Canada to close all 102 stores

As of Nov. 30 the company had assets of $63.9 million and liabilities of $131.8 million. It incurred net losses of about $20 million between fiscal 2013 and 2015, and projects another loss for fiscal 2016, the filings said.

The digital music and movie boom has claimed another bricks and mortar victim, with HMV Canada set to close all of its 102 stores in the coming months after 30 years in business.

The ailing company, which first opened its once-expansive stores in Canada in 1986, was put into receivership in Ontario Superior Court Friday and the majority of its head office staff was laid off.

“The company and major suppliers were unable to reach an agreement, on mutually acceptable terms to sustain HMV’s operations and support a recovery,” said court documents filed Friday on behalf of the company. HMV’s stores in nine Canadian provinces will remain open for several weeks in order to liquidate remaining inventory, the company confirmed Friday. HMV owes its major suppliers, including music labels and media studios, $56 million as of Dec 31.

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[anotheruserwithnoname]

HMV Canada is closing

Any of my friends in Canada, a heads up. As of April 30 the last remaining national chain, HMV Canada, is closing down. Despite the fact that the stores are always packed in my part of Canada, too many people are only interested in spending their cash on digital files.

Thanks downloaders. I really appreciate it. Once you guys kill the last bookstores I won’t have any reason to leave my house at all except to work and buy food.

And don’t say this is progress. How can a move from physical items to a bunch of zeroes and ones that can be deleted or corrupted or blanked by a third party at whim (always remember what Amazon did to the 1984 e-book when it blanked an unauthorized version remotely from people’s Kindles) possibly be progress? Seriously. 

People are already regretting relying too much on digital and in the UK vinyl downloads actually outstripped digital sales last year. People are getting the message but it’s too f--king late for the retailers. And the approximately 1,400 people at HMV Canada who’ll now be unemployed in the midst of a shit economy.

PS. I feel awful making this post longer than the one about John Hurt dying. I got the news literally back to back. John, sadly, wasn’t a huge surprise, and others can do a better job of paying tribute than I, but I was really hoping HMV would survive.

PPS. As one of the only retail outlets that carried Doctor Who DVDs, if there are any you’ve been thinking of picking up (assuming you’re in Canada) I wouldn’t wait too long.

Edit: A couple of folks have thought this post refers to the original UK HMV. I have no idea its status. This is regarding the Canadian chain. If you’re in the UK and there’s an HMV, use it or lose it.

[remainboldbronyboy317]

(via https://www.youtube.com/watch?v=P9z9DB-NwzU)

[trashabilly]

oh! right, guys if any of u live in canada and have any hmv gift cards you need to use them before feb 28 we’re still gonna be open after that but we wont be accepting gift cards and you’ll lose the money you have on the card. or if youve given someone a card make sure they use it before then

[spockvarietyhour]

HMV Canada to close all 102 stores

The digital music and movie boom has claimed another bricks and mortar victim, with HMV Canada set to close all of its 102 stores in the coming months after 30 years in business.

They tried to diversify but it wasn’t enough in the end.

[xingelic]

HMV need to carry some Kpop albums.