Jump to content
ajp

HMV Canada to Close Down (Some Leases Picked-up by Sunrise)

Recommended Posts

 

 

Struggling HMV Canada goes into receivership

TORONTO — An Ontario Superior Court of Justice approved an application to place HMV Canada Inc. into receivership on Friday.

HUK 10 Ltd., which lent money to the struggling chain, filed the application to the court Thursday.

It claimed HMV owes it nearly $39 million and has received no cash payments since Nov. 2014.

HMV would require between $2 million and $5 million annually in cash to stay open, according to court filings, and the company was losing $100,000 a day as customers turned towards online media in recent years.

Senior Justice Geoffrey B. Morawetz approved the application and appointed Gordon Brothers Canada ULC and Merchant Retail Solutions ULC as the agent to sell HMV's remaining merchandise.

Legal documents state that closing stores must cease operations by April 30.

HMV operates 102 stores in Canada and employs about 1,340 people, most of them at its retail locations.

fall3

Edit: Feb 27/17 - Sunrise Records announced it will pick-up 70 leases of the 102 stores that HMV is closing and turning them into Sunrise. cheer1

 

 

Link to post
Share on other sites
9 minutes ago, ajp said:

@Aidan.

OMG My heart broke when I saw this pop up in my notifications fall3

I'm honestly devastated. Truly the end of an era fall3 I had just bought something from there today too fall3

I have a lot of points for HMV right now too fall3 Looks like I'll be heading to the Superstore soon and buying out their Kylie stock so it doesn't end up in the middle of nowhere fall3

Link to post
Share on other sites
2 minutes ago, Aidan. said:

OMG My heart broke when I saw this pop up in my notifications fall3

I'm honestly devastated. Truly the end of an era fall3 I had just bought something from there today too fall3

I have a lot of points for HMV right now too fall3 Looks like I'll be heading to the Superstore soon and buying out their Kylie stock so it doesn't end up in the middle of nowhere fall3

Buy and send me KM94 and BL for my birthday! 

Link to post
Share on other sites

I'm gutted. 

ahs1

HMV was the last music retailer. 

Sam The Record Man - gone.

Music World - gone.

Sunrise - gone.

Target - gone.

Future Shop - gone.

BestBuy - doesn't sell CDs

WalMart - who cares? 

fall2

 

Link to post
Share on other sites
33 minutes ago, ajp said:

I'm gutted. 

ahs1

HMV was the last music retailer. 

Sam The Record Man - gone.

Music World - gone.

Sunrise - gone.

Target - gone.

Future Shop - gone.

BestBuy - doesn't sell CDs

WalMart - who cares? 

fall2

 

I remember Sunrise fall2 I used to pickup my concert tickets there fall2 

Link to post
Share on other sites
33 minutes ago, ajp said:

I'm gutted. 

ahs1

HMV was the last music retailer. 

Sam The Record Man - gone.

Music World - gone.

Sunrise - gone.

Target - gone.

BestBuy - doesn't sell CDs

WalMart - who cares? 

fall2

 

Did Target already close down? I was in Canada in 2013 and saw it was opening up.

I was actually shocked to see HMV was still opened in 2013 when I went. HMV closed down in 2009 (I believe it was the last store) here in Australia. I did buy like two CD's when I went to Canada and was shocked to see that they were selling not well known internationally Aussie CD's. Truly an end of an era. 

Link to post
Share on other sites
1 minute ago, Officer Nasty said:

Did Target already close down? I was in Canada in 2013 and saw it was opening up.

I was actually shocked to see HMV was still opened in 2013 when I went. HMV closed down in 2009 (I believe it was the last store) here in Australia. I did buy like two CD's when I went to Canada and was shocked to see that they were selling not well known internationally Aussie CD's. Truly an end of an era. 

Yes they didn't last long at all. They couldn't compete with Wal-Mart shrug1

 

Link to post
Share on other sites

Shocking, but not surprising. HMV have been struggling for years, and have been on the brink of collapse here in the UK several times. Amazon's killing them off, gradually. 

Link to post
Share on other sites
11 minutes ago, Officer Nasty said:

Oh wow I had no idea. I was actually shocked to see that Target didn't have a store in Canada prior to 2013. I thought Target had stores everywhere. shrug1

Just USA and separately owned chain in Australia. Target entered the Canadian market by buying Zeller's and converting some 125 stores over. They should have just opened a few stores in Toronto to test the market instead of the way they did it. It's a shame cause they can't re-enter Canada for 10 years after declaring bankruptcy. 

Link to post
Share on other sites
1 hour ago, Dash My Wig said:

Shocking, but not surprising. HMV have been struggling for years, and have been on the brink of collapse here in the UK several times. Amazon's killing them off, gradually. 

Does the UK still have HMV?

Link to post
Share on other sites
Just now, Aidan. said:

It's officially posted on the site

https://www.hmv.ca/

All stock has been removed from the site and all stores will be closed by April 30th

wendycry5qjei.gif

Management is done. The Liquidators are in charge. They'll start with 10% off everything. Get those deals! cry9

 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Replies 43
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

@ajp@Breathless Mahoney Good news sistrens. I just asked the HMV in my Mall and they said that pure points can still be used up until the store closes. I felt sad going in there. You can tell the

OMG My heart broke when I saw this pop up in my notifications I'm honestly devastated. Truly the end of an era I had just bought something from there today too I have a lot of points for HM

Makes me extremely sad just because when you can't find an album or movie you can always find it there


  • Browsing now   0 members

    No registered users viewing this page.

×