The move follows HMV's withdrawal from the German market, and is a timely reminder that a company that can seemingly do no wrong in the UK is not infallable. The remaining three stores in the US will see out the remainder of their existing leases, meaning that over the next six years the chain will probably disappear from the territory altogether.
A spokesperson commented: "[HMV] continues to review the longer term viability of operating its three remaining legacy stores in the US alongside our more profitable and market-leading Canadian business"
In the UK, Tower Records have now completely withdrawn and Our Price is going the same way.
DIScuss:Could it be that downloading technology such as Kazaa and iPods are partially responsible to the perceived state of the worldwide music business? Will record stores in the UK go the same way? Will you ever stop going to record stores, or have you already? Do we still need them?