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With three record retail chains closing in the past six months, 2003 has not exactly been an encouraging year for those at the sharp end of the music business.
While Official Charts Company figures show album sales this year up by 12%, the withdrawal from the UK of overseas operators Tower and Sanity, accompanied by the descent into administration of Andys Records--and last week's WH Smith profits warning--suggest those figures are only one side of the story.
One multiple retail source puts it bluntly: "The fact is that when times are tough, only the strongest survive. The heat has been turned up and a lot of people have found it too uncomfortable and ...