Disappointed shoppers say the likely closure of HMV in Chesterfield will be a significant loss to the town centre.
The 92-year-old company announced on Monday that it was entering administration after failing to agree a new deal with its banks.
Nearly 4,500 jobs at HMV, which has 236 stores nationwide, are now under threat.
On Tuesday staff put signs on the front of the Vicar Lane store, which employs 12 staff, informing customers that gift cards and vouchers would no longer be valid.
And shoppers said the demise of the entertainment giant, which follows an announcement last week that camera retailer Jessops would be closing with the loss of 1,370 jobs, was disappointing.
One of them, Mrs Robinson said: “It’s shocking really. Who knows what the future holds but if the council keep putting rates up then more will follow.
“It will be a loss for the town but I don’t think we’re doing as badly as other places.”
Another, David Clark said: “It’s terrible. It’s such a pity, especially after Jessops closing last week. I don’t shop in HMV regularly because I don’t buy many CDs any more, but I don’t shop on the web either.
Mrs Williams said she started shopping at HMV following the closure of Hudson’s after 105 years in Chesterfield last April.
“It’s very upsetting,” she said. “I blame the supermarkets. They shouldn’t be selling CDs so cheaply.
“People buying on the internet rather than shopping locally reflects a lazy society.”
HMV and Jessops, which have a store in Market Place, Chesterfield, are the latest high street brands to fall victim to the difficult economic climate following the closure of Comet last year and Woolworths in 2009.