Sunday, January 20, 2013

European Music Retailers Going Down

Countless teenagers have flipped through its racks of vinyl albums and CDs. But, after 91 years, the music seems to have ended for HMV, by far Britain’s biggest brick-and-mortar music shop—or at least moved into an unpredictable coda, in a minor key.

On January 15, 2013 the retailer, which employs 4,350 people, announced it was putting itself into administration. MORE HERE

Employees of two HMV record stores in Limerick, Ireland, started sit-ins last week, demanding unpaid wages after the chain, based in Britain, filed for bankruptcy protection.

In France, workers at Virgin Megastore music and video shops went on strike this month after that chain, too, was declared insolvent and placed under a court-appointed administrator, threatening the stores with closure.

In Italy, workers at Fnac, which sells compact discs, DVDs, books and consumer electronics, took similar action last autumn. MORE HERE

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