“HMV will not survive in its current form,” Laura Kuenssberg reports for ITV News. “Its shares won’t trade on the stock market tomorrow morning and its administrators will start the work of trying to salvage what they can.”

“Within what was a mighty retail empire there may be pickings that appeal to some,” Kuenssberg reports, “But in this economic climate and with the music business landscape transformed by the internet, buyers for big chunks of the firm may be thin on the ground.”

Kuenssberg reports, “If all of the HMV jobs go, around 12,000 retail posts would have disappeared in only six weeks. Millions of us share some of the responsibility for the collapses by moving our custom online.”

Read more in the full article here.

MacDailyNews Take: I think death is the most wonderful invention of life. It purges the system of these old models that are obsolete. — Steve Jobs, Playboy, February 1985

Death is very likely the single best invention of Life. It is life’s change agent. It clears out the old to make way for the new. — Steve Jobs, Steve Jobs at the Stanford University Commencement Address, June 12, 2005

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