This is interesting news, Global News is reporting that Sunrise Records is betting big on the power of Canadian music sales and has plans to open and operate 70 Sunrise Records stores in vacant HMV stores.
Sunrise Records has negotiated very reasonable leases with mall landlords across the country and looks to capitalize on the void left by HMV.
It’s a very interesting strategy. While records stores all around the globe are closing down, Sunrise Records is expanding. Sunrise Records expects their new stores to open this spring as soon as HMV completes its liquidation process.
Not only is Sunrise Records saving the mall record shop in Canada, there are also potentially saving a lot of jobs. The Global News article points to the fact that Sunrise Records has offered up to 700 jobs to recently unemployed HMV staff.
To read an in-depth analysis of Sunrise’s expansion, you can read the Global News article here.
What do you think? Will they Succeed?