Music World to Close Stores

From Marina Strauss, Globe and Mail:

Music World Ltd., the last domestically owned national music chain, has been put into bankruptcy protection by new owners who expect to wind down the money-losing business - another victim of a rapidly changing music listening and buying landscape.

With 72 stores and a presence in almost every province, the retailer joins Sam the Record Man and others that have succumbed to the new world of music downloading, online file-swapping services and digital radio. As well, music merchants have been squeezed by Wal-Mart Canada Corp. and other big-box stores that sell compact discs as loss leaders.

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