Ontario-based music retail chain Sunrise Records plans to move into 70 retail spaces being vacated by HMV Canada.
Sunrise Records has negotiated new leases with mall landlords across Canada. The new stores will open this spring after HMV liquidates and removes its signs. Sunrise’s move gives the company a quick foothold in the Canadian music scene, just as the industry’s largest retailer closes shop.
“It’s a good opportunity for us to get a lot more stores open,” Sunrise Records president Doug Putman told The Canadian Press in an interview. “We think there needs to be a great outlet across Canada to buy music.”
According to Nielsen Music Canada, CD sales fell 19 percent to 12.3 million units last year.
“A lot of the younger consumers still love having something tangible,” 32-year old Putman argued.