HMV UK 'set to go into administration' *Updated*

*Update: HMV just tweeted this:

This is very good news for Canadian HMV stores and I'm happy to hear that none of this news from the UK affects any of the stores across Canada.

HMV will remain as my go to place to pick up all of my road trip music and I hope that they will be around for a long time to come.

Original Post:

HMV UK could be in the control of accounting firm Deloitte very soon.

It's still unclear what the effect of all of these activities in the UK will have on the HMV store locations in Canada. But it's still quite sad to see the once venerable HMV fall from grace as music purchases have largely moved onto the Internet.

Over the past year I have tried to support HMV by purchasing one or two CDs whenever I would take a long road trip as HMV still had an alright selection of electronic music CDs to choose from. Sadly there are still a lot of old compilation CDs from 2009-2011 that are waiting for a buyer but will probably never be sold unless at a steep discount.

As someone who was used to visiting HMV on weekends back in the day to check out the latest records I am saddened by this news.

(Source: Reuters)