HMV Canada closing all stores

HMV Canada will close its stores across the country by April 30th.  An Ontario Superior Court of Justice approved an application to place the company into receivership on Friday.

Court documents show that the company owes close to $39 million dollars to its lender HUK 10 Ltd.  On top of that, they are losing $100 thousand dollars a day as customers move towards online purchases of media.   HMV has 102 stores in Canada and employs about 1,340 people.