HMV Canada

Sunrise Records To Expand

Ontario music retailer Sunrise Records is planning on expanding into several former HMV locations through-out Canada this spring.

This chain’s nine stores are currently located in the province of Ontario and the company has been negotiating to take over 70 former HMV locations according to the Globe and Mail.

Unfortunately this will not include the flagship store at the corner of Yonge and Dundas in Toronto and several key street level locations in Canada. But the retailer is hoping to become profitable in 2018 regardless of their inability to secure these locations.

HMV Canada Sold To Hilko UK

HMV Canada has been sold to British restructuring company Hilko UK.

HMV Canada is expected to expand their online presence with streaming content according to today’s press release, whilst retaining their CD and DVD stores.

“The management team of HMV Canada has built a plan that will extend the period over which the residual hard-copy music and film market can be maintained. The new product categories it is introducing to the business will help sustain sales levels during the transition of entertainment sales into the digital realm.” – Paul McGowan, Hilco UK Chief Executive

HMV Canada is expected to recieve $25 million from Hilco UK to continue their transition plan and additional details will be made available shortly.

HMV Canada For Sale ?

The CBC has reported that HMV Canada may be sold by Maidstone, England based HMV Group PLC to pay for a $200 Million dollar debt.

The company claims that they have not discussed the sale to a potential buyer yet.