Sunrise Records Takes Over 70 HMV Locations in Malls
In an ambitious and risky investment while many bricks-and-mortar music stores struggle, Toronto's Sunrise Records is taking over 70 stores that HMV is closing.
The new locations are in Canadian malls from coast to coast.
"With HMV leaving, it leaves a big hole in the marketplace," says Sunrise president Doug Putman, "so we just thought it was a good opportunity and the timing was right. So we are going to jump on it and do what we can."
Putman will only say Sunrise is making a seven-figure investment, and he hopes to turn a profit by next year.