Hamilton-based Sunrise Records has apparently acquired bankrupt retailer HMV in Canada. The deal, according to CTV, will safeguard some 1,500 jobs. However administrator KPMG says 27 stores will close immediately, resulting in a loss of 455 jobs. In 2017, Sunrise chief Douglas Putnam took over 70 leases from HMV. The company seems to follow a careful policy of suburban locations. It has 85 stores nationally with only three stores in Toronto, one in Scarborough and two in Etobicoke.
- HMV receives last-minute offer from Hamilton’s Sunrise Records: report
- Will Sunrise Records avoid costly downtown Toronto?
