Feb 3, 2019

HMV: Canada record shop boss 'enters race'

The race to buy collapsed music chain HMV has a new front-runner after a surprise intervention from a Canadian entrepreneur, media reports say. HMV collapsed in December, its second administration in six years, risking 2,200 jobs at 125 stores. Music Week suggested that the HMV brand could disappear and be replaced by Sunrise's if Mr Putman's bid was successful. The paper said that although HMV Retail was in administration, HMV Brands, which controls the rights to the name, was not. HMV sold 31% of all physical music in the UK in 2018 and 23% of all DVDs, with its market share growing month by month throughout the year.

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