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THE SCOOP | The End of an Era: HMV Goes Bankrupt

By Michael Vincent on January 28, 2017

(Photo: Stephen Dyrgas/Flickr)
(Photo: Stephen Dyrgas/Flickr)

The last of Canada’s big legacy record stores, HMV, has gone into receivership, with stores scheduled to close by April 3, 2017.

An application filed by HUK 10 Ltd., who bought the struggling HMV chain in 2011, was approved last week by Geoffrey Morawetz at the Ontario Superior Court of Justice.

The move comes after HMV could no longer make payments on its crippling debt to the tune of $39 million. The chain was profitable up until 2013, but after a significant decline in sales it has not made a single payment on the debt since November 2014.

According to the affidavit, HMV would require a $2 million emergency injection of funds to keep basic operations going.

The affidavit stated that HUK 10 has determined the decline of the iconic record store chain is likely to continue, and the business is no longer sustainable and would not provide further financial support.

There are currently 102 HMV stores operating across Canada, employing roughly 1,340 people.

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Michael Vincent

Michael Vincent is Publisher of Ludwig Van. He publishes regularly and writes occasionally. He has worked as a senior editor over fifteen years and is a former freelance classical music critic for the Toronto Star. Michael holds a Doctorate in Music from the University of Toronto.
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THE SCOOP | Alexander Neef Appointed Artistic Director Of Santa Fe Opera

By Michael Vincent on February 10, 2018

In a surprise announcement made mid-afternoon yesterday, Canadian Opera Company’s General Director Alexander Neef has taken a second appointment as the first Artistic Director of Santa Fe Opera.
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IN MEMORIAM | Quartetto Gelato Member Alexander Sevastian Has Died, Aged 41

By Ludwig Van on February 19, 2018

Toronto's music community has been dealt a devastating blow Friday with the sudden death of 41-year-old Toronto-based virtuoso accordionist, Alexander Sevastian.
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THE SCOOP | Canadians Dominate 2018 George London Foundation Awards

By Sara Schabas on February 17, 2018

The winners of the 47th annual George London Foundation Awards Competition for young American and Canadian opera singers were announced at the conclusion of the competition’s final round this evening, which took place before an enthusiastic audience at Gilder Lehrman Hall at The Morgan Library & Museum in New York City.
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