Forty-five year old music retailer Look & Listen has been placed in business rescue after 14 of their 19 stores nationwide have not traded profitably in months. It seems that the growth of digital in music cannot be denied. A recent report revealed that more than 28 million people worldwide now pay for a music subscriptions, up from 20 million in 2012 and 8 million in 2010. Director Howard Lazarus has said that Look & Listen’s woes were also due to “a depressed economic climate, specifically within discretionary retail product categories such as music, gaming and movies”.
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