The remainder of the HMV retailing company left in Canada has declared bankruptcy. The firm has been shrinking for years. There are three stores left in Toronto and they will close April 30. The location which HMV had in the SmartCentre on Laird is now occupied by Roots Canada. HMV stands for hot music values but, as is well known, that business vanished with the arrival of the Internet. HUK 10 Ltd. the firm’s British parent had lent money to the Canadian subsidiary but no payment had been forwarded since 2014, court was told in an application Thursday. It said HMV owed $39 million and would require between $2 million and $5 million annually in cash to stay open.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. HMV Wikipedia
Considering how some Loblaws stores abuse their customers, reports of which are posted on the Internet, its surprising that anyone still wants to shop there, unless they have no other grocery stores to choose from.