Welcoming the news that HMV is to continue trading following its acquisition by Sunrise Records, Geoff Taylor, Chief Executive BPI and BRIT Awards, said:
“We are heartened that the large majority of HMV stores will continue to trade under the new ownership of Sunrise Records - a business with a successful track record in entertainment retail in Canada.
“There is still a resilient market for recorded music on physical formats - last year accounting for over a third of all music consumption. Fans value the collectability, artwork, liner notes and great sound quality of music on CD and vinyl. With new investment and the support of labels, HMV can continue to offer music lovers the pleasure of browsing and buying physical music on the High Street. We hope that Government will play its part in helping to sustain important employers like HMV by reviewing the high levels of business rates that disadvantage physical stores compared to online traders. Meanwhile, we wish the new owners and the staff the very best as the chain heads towards its centennial celebration in 2021.”