Another one bites the dust. It's a song by the rock group Queen and you can still buy the CD at Music World. But you'd better hurry. The last Canadian-owned national music chain has confirmed it will be going out of business after being sold to new owners and immediately being put into bankruptcy protection.
Music World has 72 stores across the country, including a number in the Toronto area. But sales aren't what they used to be - the franchise lost more than $9 million last year. It plans to stay open until at least January to take advantage of holiday sales, which means you may be able to find a bargain as it attempts to liquidate its stock. But for its 648 employees across Canada, it will be a grim Christmas. They're facing layoffs starting in the New Year.
The new owners say they may keep a few outlets in key locations open with a new focus on overall entertainment, but suspect the era of the big record store has come to an end in Canada. HMV, which is British, remains the biggest such chain in the country and has already started a movement away from pitching music to other entertainment options, like DVDs and video games.
Music World is the latest casualty of war as an army of listeners and buyers head straight for the Internet to download the music they want directly. Retailers simply can't match the prices or the convenience, not to mention the ongoing illegal downloading which doesn't cost consumers a cent. And competitors like Wal-Mart have begun to sell CDs as a loss leader to attract customers.
The franchise joins other broken records on the scrap heap of history, including Sam the Record Man, which closed its famous flagship store for good at the end of June. All that remains is the sign, which has been declared a historic landmark and won't be taken down.
The iPod family of products, as of late 2007.
Many of record store HMV's Canadian locations have started to stock iPod portable music players, in a move to stay relevant.

HMV Canada President Humphrey Kadaner commented "While the majority of purchased music continues to be in physical form, it's clear the listening experience of many Canadians is evolving to also include portable music and for the majority of those consumers the digital player of choice is the iPod. As the country's leading music retailer, it only makes sense that we provide a full music experience for our customers by selling Canada's leading digital music player."

"Many people think the world of CDs and the world of iPod are incompatible and it just isn't true. Not only are they compatible, they are now cohabitating at many HMV stores across the country. The addition of iPod in HMV stores is another step in HMV's evolution from a music retailer to an entertainment retailer."

Now closed down Sam the Record Man in downtown Toronto
In mid-November this year, Canadian chain Music World announced it was closing its stores as of the new year. The franchise has 72 stores across the country, and 648 employees who have been able to keep their jobs during liquidation, which is expected to continue through until Christmas. The store's website now contains nothing but its logo for months.

Previously, the last remaining location of Sam the Record Man closed down, in downtown Toronto. Sam once had 130 stores nationwide, then the record. There is a store in Belleville and Sarnia, once part of the chain, but now simply known as "SAM".

The last American locations of HMV closed in 2004.