Sunrise Buying HMV
CBJ — Sunrise Records is rescuing HMV out of bankruptcy in a deal that will save about 1,500 jobs.
However, administrator KPMG says 27 stores will close immediately, resulting in a loss of 455 jobs.
Sunrise, which is based in Ancaster, Ontario, near Hamilton, has a presence in seven provinces with 85 locations and has been around since 1977.
HMV is a public entertainment retailing company, originally registered in England.
The financial details have not been released.