Highlights What's Happening

Musica Stores Are Closing Down!

The Clicks Group has currently closed doors of 19 Musica stores and only 59 remain operational. The remaining stores are expected to be closed at the end of May 2021.

In 1992, The Clicks Group acquired the growing franchise and continued to lead it towards an even brighter future. Unfortunately, as we transitioned into a digital era, more and more people stopped buying physical copies. It seemed more reasonable to download CDs and DVDs on the internet than to purchase the hard copy from a retailer.

For the past couple of years, Musica has faced a strong decline in both sales and market value, and with the COVID-19 outbreak, the brand Musica came to an end.

“Musica has been operating in a declining market for several years owing to the structural shift globally to the digital consumption of music, movies, and games from the traditional physical format.”

The full closure of Musica will take effect from 31 May 2021.

“In the stores which have been closed since September 2020, the Musica staff have been absorbed into the group’s expanding health and beauty store network. Management is committed to accommodating the remaining staff within the group where this is operationally feasible.

“Further detail on the financial and operational impact of Musica’s closure will be communicated to shareholders with the release of the group’s interim results in April 2021.”

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