Sunrise Records is placing a major bet on Canadian music sales with plans to move into 70 retail spaces being vacated by HMV Canada, reports David Friend of The Canadian Press.

The Ontario-based music retail chain has negotiated new leases with mall landlords across the country.

Sunrise’s expansion gives the company a quick foothold in the Canadian music scene just as the industry’s largest retailer closes shop. Stores will begin to open this spring after HMV liquidates and removes its signs.

“It’s a good opportunity for us to get a lot more stores open,” Sunrise Records president Doug Putman told The Canadian Press in an interview.

“We think there needs to be a great outlet across Canada to buy music.”

The 32-year-old executive’s investment comes at a time when many are dismissing physical music sales as more listeners shift to streaming options.

He bought the Sunrise chain from Malcolm Perlman in October 2014 just as streaming was going mainstream. Perlman had spent the previous few years shutting down most of the Sunrise stores in the Toronto area, often blaming higher rent.

When Putman gained control of the company, there were five Sunrise Records stores left. He’s since doubled the number by opening in Ontario cities like Ottawa and North Bay. He said all of those stores are profitable.

The company was unable to reach new terms for about 30 of the closing HMV stores, Putman said, including the company’s flagship location at Yonge and Dundas streets in Toronto. Some landlords weren’t interested in a “pop culture” chain, he said.

Staying ahead of trends will be one of the biggest challenges Sunrise faces as it defines itself as a hybrid music retailer and cultural merchandiser.

Aside from CDs and DVDs, Sunrise will hedge its bets with board games, themed toys and a wide selection of music, film and TV apparel.

Read more at GlobalNews.ca. Check out the initial report of HMV Canada going out of business at this location, and visit SunriseRecords.com for further details.