NoK

That's all she wrote folks! Virgin Megastore is no more. The once largely popular media giant shut its doors Sunday at the two final remaining stores: the huge 50,000 square foot venue in Union Square, and another store out in Hollywood, California. It comes as no surprise to anyone though as they had announced months ago that they would be going out of business, and that all stores would be closed after they tried to crawl out of mounting debt and a Chapter 11 filing. The only thing that was left in the store in New York was a couple of bins of CD's and a t-shirt rack. The CD's were selling for 80 percent, much the same for the shirts.

This latest closing is proving more than ever that music shops in New York, and America in general, are no longer a profitable market, and have been replaced by online outlets such as iTunes, as well as the illegal downloading websites and the sharing of files through instant messaging programs. Though some record stores such as A1, Rebel Rebel, and Halcyon still manage to say in business by catering to the die hard vinyl heads who will by the black window until the day she dies, in the end, digital will prevail. So lets all say adios to Virgin, and hello to Walmart, or whatever other conglomerate will take the Union Square space ()

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www.nokturnalist.com

VanessaG

I had no idea that the 14th street store was closing so soon

MidnightSociety

Yeah, the building closed very quickly. And even though what Nok said is completely true, I do think there was more behind the 14th Street closing than just declining sales.

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Curtis L. Atchison
Midnight Society / SoundGroove Records
Internet - http://www.midnight-society.com
MySpace - http://www.myspace.com/midnightsocietynewyork

SiCKPaus

It's interesting based on the other article just posted about the festival they are throwing, that they are doing it for free. I know they get money from sponsers, but a festival like that costs money, and if they just closed up all the shops after filing for bankruptcy, then why are they throwing a free festival? They do have the other brances like the cell phone one though, so maybe that has something to do with it.