Hellraizah
Member
When the 70-store HMV chain filed for receivership in an Ontario court in February of this year with $39 million debt on its books, the prevailing wisdom was this was the tombstone for physical music sales in a digital universe.
The opposite has rung true for 30-something Doug Putman who grew up working at the family business, Everest Toys, a manufacturer and distributor based in Ancaster, ON.
He moved into the music sales with the acquisition of the five-store, Ontario-based Sunrise Records chain from Malcolm Perlman in October 2014 and quickly doubled the number by opening in cities like Ottawa and North Bay. In April 2017, Putman surprised just about everyone with an ambitious plan to re-negotiate leases in all of the HMV locations and make Sunrise a national brand.
In just over two months Putman has opened up 50 more stores and "business is booming," he says.
It doesnt stop here, either He has plans to have a fleet of 85 outlets by year-end.
The numbers we are doing are off the chart, they are insane right now, he shared in a phone interview yesterday.
A lot of people just dont realize the scope of demand still for CDs and vinyl."
http://www.fyimusicnews.ca/articles/2017/06/21/cds-spinning-big-sales-numbers-sunrise-records-chain
This chain is proving they have some pretty big balls. They had 9 locations at the beginning of the year and they are opening more than 70 stores in a couple of months in a market that is considered dead by many.
Think they have a chance to succeed?