Canada’s Music World bites the dust
p2pnet news | Music:- The doors will soon close for good on Music World, the last Canadian-owned national music store chain.
Its site now displays only the logo.
Music World is under bankruptcy protection and the new owners, “expect to wind down the money-losing business – another victim of a rapidly changing music listening and buying landscape,” says the Globe & Mail, going on:
“With 72 stores and a presence in almost every province, the retailer joins Sam the Record Man and others that have succumbed to the new world of music downloading, online file-swapping services and digital radio. As well, music merchants have been squeezed by Wal-Mart Canada Corp. and other big-box stores that sell compact discs as loss leaders.”
Music World should close by early next year, “but its new owners will look for buyers for some of its profitable stores and its inventory, court documents state,” says the story adding:
“The parent company was bought by the new shareholders last Wednesday and, two days later, got creditors’ court protection.
“By early next year, British-based HMV will likely be the only remaining national music chain in Canada, with 118 stores.”
Also See:
Globe & Mail – p2pnet down. CRIA?, November 13, 2007
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November 14th, 2007 at 12:22 pm
” the retailer joins Sam the Record Man and others that have succumbed to the new world of music downloading, online file-swapping services ”
A Lie.
” digital radio. As well, music merchants have been squeezed by Wal-Mart Canada Corp. and other big-box stores that sell compact discs as loss leaders.”
The truth.
November 14th, 2007 at 4:28 pm
“” digital radio. As well, music merchants have been squeezed by Wal-Mart Canada Corp. and other big-box stores that sell compact discs as loss leaders.”
The truth.”
An excuse. Sam’s in particular made serious mistakes in inventory choices, and that was one of the biggest causes of their final closure. Blame big bad Walmart all you like, but Sam’s did at least as much damage to themselves as any outside force.
November 14th, 2007 at 10:15 pm
People aren’t buying so many CD’s any more because:
1. They’ve now completely turned over their cassette/vinyl collection
2. They’re spending their money on DVD’s and games
_
November 17th, 2007 at 7:57 am
I am an Employee of Music World Canada, and I am very saddened to realize I have no job after Christmas because of ‘The Lazy Consumer’. People are blaming the ‘Big Box Stores’ and not themselves. Its the people who buy music (or not buy music (downloading)) at Wal-mart or Best Buy Ect… Why not support the local record shop or our own country’s Music World? Yeah I said it, its the consumers fault.
You’re all using excuses….
DC
November 19th, 2007 at 12:24 am
I can only speak for myself. And well I have only bought 1 cd in a muic store. And well that was before I had any clue or a real interest in music and really just ate what they fed me.
As for now I order it all online. Lazy? no. Maybe if your stores carried what I listened too I would go to them. But instead they are littered with rows and rows and pop/rap/and a lousy excuse for rock/metal.
November 22nd, 2007 at 9:49 pm
I heard about this, posted about it on my LJ, but you know what?
Even though Music World was my favourite Music store, it truly lacked the music I listen to, which is a sad fact. I always was more likely to buy DVDs there, but even that was better to do online.
However I’m not the type that should be included in any of this: ‘blame the people’ stuff. Why? I don’t listen to English music. What do all the stores carry? English music. (excluding a few privately run stores of course)
So yeah, online shopping wins out, cause my music is imported. :/
The last CDs I bought were from Music World, but they were classical CDs, Chopin.
December 18th, 2007 at 6:42 pm
Well, Im not surprised to be honest…. They over inflate the CD\DVD prices quite a bit compared to other CD stores. Who can justify paying $22.99 for a CD when you can go down the mall and get the same CD for $13.99??
Blame downloading all you want, but I’m pretty sure its the greed of the monkeys in the suits.
December 24th, 2007 at 4:29 pm
Downloading music without paying for it is a large cause of music world going out of business. Why do so many people download music even though it`s wrong? It`s interesting to listen to people rationalize their reasons for doing so.