Not only is the traditional music retail industry in dire trouble, but there’s a huge global recession squeezing the life out of every high street store. It’s no surprise then that HMV are looking to diversify. It’s probably the only way they’ll survive the next five years and not “do a Zavvi”. They’ll spend almost 20 million quid investing in a string of venues (including the soon to be named HMV Apollo).
More details here.