Saturday, March 26, 2011

HMV exploring options, could include selling off its Canadian unit

Financially troubled music, DVD and book retailer HMV is pondering the sale of its Canadian stores to pay off its staggering debts as it increasingly becomes a victim of the digital download age. HMV Canada said it is currently reviewing suitable options for "future growth plans," but added it remains confident that any change will have a positive impact on the Canadian retail division. "HMV Canada has no intention of withdrawing from its position as the number one entertainment retailer in the country," Nick Williams, president of HMV Canada said in a statement late Friday. The music and movie retailer said it is in the process of finalizing plans to open a number of new concept locations across Canada, even as restructuring negotiations are ongoing
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