Canadian music store chain Sunrise Records has struck a deal to buy British retailer HMV out of bankruptcy in a deal that will keep most of the locations in Britain open. Founded in 1921, HMV grew to become one of the biggest sellers of music in the world, especially after it expanded to Canada in 1986. But the chain has been hit hard in recent years by the rise of online music streaming options. Among them was Sunrise Records, a Hamilton-based music store chain led by Doug Putman, which bought HMV's Canadian assets in 2017. The plan is to continue to operate them under their existing banners of HMV or Scottish based Fopp and not convert them to Sunrise Records.

Source: CBC News February 05, 2019 14:15 UTC