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Virgin Megastore Shuts Down

Posted in News, Records Sale on the January 16, 2009


The economy continues to make me deliver some sad news. The famous Times Square Virgin Megastore in New York City is shutting down. The store was the highest selling music store in the US with annual sales of $55 million. Back in August 2007, Virgin Entertainment Group was sold to 2 real estate companies which had people wondering about the future of the stores. The Times Square store will be closing this April and will leave Virgin with just 5 stores – 1 of them will be the Manhattan Union Square store which only has an estimated $40 million annual sales volume. But the future of that store is still questionable as the new owners will be deciding what to do with the rest of the locations over the next few months.

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