Neil Saunders, managing director of retail consultancy Conlumino, said the collapse of HMV was inevitable.
While many failures of recent times have been, at least in part, driven by the economy, HMV's demise is a structural failure.
In the digital era where 73.4% of music and film are downloaded or bought online, HMV's business model has simply become increasingly irrelevant and unsustainable.
Following outrage from customers, the administrators running HMV have announced they will honour gift vouchers for the high-street chain.
HMV is not honouring its gift vouchers, leading to an uncertainty that is threatening to change the way Britain gives its gifts.
The boss of HMV said he is confident a solution can be found to keep the brand on the High Street. In what form, however, is less clear.