Sunrise Records will close 27 stores immediately.
The group has 130 stores and employs 2,200 staff.
I was on Oxford Street in London for one of the final days of the big HMV store closing. The racks were almost completely empty and there were music geeks and tourists wandering around looking for a bargain. In one corner was a small collection of records on vinyl.
Primark is coming to America, with US fashionistas preparing to snap up their budget items at the chain's first store, set
The best businesses are the ones which really stay in tune with their customers' needs. These days there are so many tools to analyse results, and so many ways to interact with the people who buy your products or services, that there really is no excuse for failing to grasp what they are thinking. The needs and behaviour patterns of your customers can constantly change - and your business should adapt accordingly.
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Blockbuster Entertainment's new owner has said it is putting the DVD and computer games rental chain into administration
This week the government questioned Mary Portas on the progress of the review and how it's helped to revive the high street, so far. Consequently, the review hasn't been successful and MPs have claimed it was a "waste of time" and a "failure". In response, Mary Portas has stated the government is to blame due to their lack of input. What's clear is a lot of blame has been bandied about, but what's not so clear is how the high street can be saved, and if there's still hope for it.
The question still remains: even after the loss making fat has been cut from the HMV cash cow, what can HMV do to get people back in store and what does this mean for the resurgent indie record shop?
Thousands of independent shops are in danger of closing in the next few years, while a review led by TV star Mary Portas