HMV Canada has announced that it will close all 102 of its remaining stores across Canada this spring. The once-mighty music retailer, which opened its Canadian shops back in 1986, was put into receivership in Ontario Superior Court on 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 on behalf of HMV.
HMV owes its major suppliers $56 million, as of December 31, 2016.
It's the end of an era, but HMV’s stores in nine Canadian provinces will remain open for the next few weeks. Interested in picking up some cds? Stores across Canada will be clearing out their remaining stock at liquidated pricing through April 30, the date when all 102 Canadian HMV stores will close for good.
