Home > politics, Social, Television & Film, Uncategorized > Virgin Megastore closing in the U.S

Virgin Megastore closing in the U.S

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The AP has reported that Richard Branson is closing his U.S store locations.  With the continuation of illegal downloading and the rise of the iTunes store, less and less people are buying full albums legally.  The six stores lef tin the U.S are pulling in a mere $170 million in comparison to the $230 million they pulling in previoulsy.

And the real estate brokers feel they can get more money from other companies for the spaces the stores take.  Really?  From who exactly?

“The 52,000-square-foot Times Square flagship closes in mid-April, to be followed by another New York store and outlets in Los Angeles, San Francisco, Orlando, Fla., and Denver, all by June, Wright said. About 1,000 staff and 60 at the corporate level will be laid off.”

All I heard was liquidation which means we know where I’ll be during the months of march -june.  Pushing shopping carts of dvds home.

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  1. spamcarnival
    March 4, 2009 at 3:19 PM

    This is rather sad, but I am down with the liquidation sale. Let’s make a date and go! Remember when Tower Records closed? Who knew it’d be the beginning of the end of all our fave NYC media outlets? Tower Records, both Virgin Megastores, Kim’s, ETHEREA (!!!)… jesus hell. What’s next, should we close down Other Music or Earwax?

  2. March 4, 2009 at 4:07 PM

    i hear the one in times square is being replaced with a forever21 =/

  3. March 5, 2009 at 7:29 AM

    I didn’t know Forever 21 is doing that well! That spot is amazing

  4. Menzie
    March 10, 2009 at 5:36 PM

    Liquidation prices I can afford, while sad it’s advantageous for me. Market is changing and businesses need to change with it.

    Plus, people still but albums legally, we’re just less likely to do it from big name bands who all sound exactly the same. Those are the ones people buy on iTunes.

    On a related note, the Bay Area’s Amoeba Records still seems to be doing well.

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