This is sad news. HMV might be forced to close all of their stores in Canada.

A report in The Globe and Mail says one of HMV’s major lenders will ask the Ontario Superior Court to put the chain into receivership.. meaning they’d have to close over 100 of their stores in Canada.

Sales have been dropping with the decline of physical music, and HMV owes HUK 10 more that $40 million.

Filed under: HMV