HMV Group Eyes Canadian Chain Sale
Troubled British entertainment retailer looks to sell Canadian operations to pay down debt.
TORONTO – Troubled British music and book retailer HMV Group PLC is looking to sell its Canadian operation to get back on a stronger financial footing.
HMV in a statement said it is “exploring strategic options,” which include selling its Canadian retail arm as well as its British bookstore chain. "There can be no certainty that any transaction will be concluded," the company added.
HMV Canada remains a major music retailer here, but has been brought low by consumers increasingly going online for music and movies, and falling physical CD and DVD sales.