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1.Market Observations

16 Jan 2013 (The Age) – Music is over for retailer

[COMMENT: We are seeing continuing reports of retailers heavily impacted and many downsizing or closing down, often due to the changes with online shopping… Darrell Lea Chooclates a few months ago, Dick Smith Electronics impacted, plus many others, and now HMV.]

(16 Jan 2013, The Age Business p17, Emily Gosden and Graham Ruddick)

‘VENERABLE British music chain HMV has called in administrators from Deloitte, putting 4350 jobs and 238 stores at risk as it becomes the UK’s latest high street retail casualty. The 92-year-old music chain has seen its sales eroded by fierce competition from online retailers, digital downloads and supermarkets. It has also been saddled with £220 million ($A335 million) of bank debt.’

Read more at TheAge.com.au

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