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In the news is Sembawang Music Centre. It is going through liquidation and bankruptcy. The reasons as reported in the press were: rising cost of rental, general decline in the industry and the emergence of close substitutes such as online music and video downloads. The decline in the industry was evidenced by Tower Records closing in 2006 while HMV is currently downgrading to a smaller 12,000 square feet from its 17,000 square feet space.
I find the financial industry to be over saturated and is in for a major decline as well. These are the reasons: Read more...