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HMV closing 113 stores in Canada

HMV is closing its stores in Canada, the company confirmed Friday.
HMV is closing its stores in Canada, the company confirmed Friday.

The managers of the French HMV Facebook page, HMV Capitale, confirmed Friday night the company’s stores will be closing across Canada.

The employees heard the rumours at lunchtime on Friday. An article in The Globe and Mail announced the closure of the chain, which was unable to adequately repay its creditors.

"At first, we did not take it too seriously, as they were the only ones to talk about it," said Alexander, assistant manager at the HMV Galeries de la Capitale.

Articles began to accumulate throughout the day. According to the Exclaim website, HMV Canada has not paid one of its creditors since 2014, building up a $40-million debt.

The employees wanted to know if the news was true, according to the assistant manager.
They found out at about 4 p.m. Employees received a conference call from their head office, confirming HMV Canada was going to close down.

“We read it on the Internet before we had the bosses call," said the employee.

Tough business

The trials of the music industry have affected the revenues of HMV stores.

"It's demoralizing," Alexander said. “We knew it was going to happen one day, but we did not think it would be that fast."

HMV, which stands for “His Master's Voice”, owns 113 stores across Canada, including three in Atlantic Canada.

The employees heard the rumours at lunchtime on Friday. An article in The Globe and Mail announced the closure of the chain, which was unable to adequately repay its creditors.

"At first, we did not take it too seriously, as they were the only ones to talk about it," said Alexander, assistant manager at the HMV Galeries de la Capitale.

Articles began to accumulate throughout the day. According to the Exclaim website, HMV Canada has not paid one of its creditors since 2014, building up a $40-million debt.

The employees wanted to know if the news was true, according to the assistant manager.
They found out at about 4 p.m. Employees received a conference call from their head office, confirming HMV Canada was going to close down.

“We read it on the Internet before we had the bosses call," said the employee.

Tough business

The trials of the music industry have affected the revenues of HMV stores.

"It's demoralizing," Alexander said. “We knew it was going to happen one day, but we did not think it would be that fast."

HMV, which stands for “His Master's Voice”, owns 113 stores across Canada, including three in Atlantic Canada.

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