Virgin Megastores in U.S. to all close

story

I'm sad for all the employees but anything with "mega" in it's name should close.
Super huge colossal stores are for shareholders and not for employees or customers.
Let independent stores take there place.

The online downloading reason is BS, several stores in Chicago are very much alive in selling cd's and even vinyl.

I can't say I'm sad to see 'em go. I never did care for the idea of paying $20 for a CD I could buy from Amazon for $12.

Cee... Dee?

Yes, I actually still prefer to purchase compact discs. For one thing, a catastrophic data loss will not affect my CDs. For another, it's something tangible, something I can pick up and hold. Let us not forget the liner notes well.

Great. Now where will I get virgins for my ritual sacrifices?

Weren't they supposed to close years ago? I could swear this is the second time I'm hearing this.

The upside to this will be that they'll probably have a huge sale, if they aren't already.

Ah shit, thanks s5. I was thinking of Tower.

What about Amoeba? Are they still around? That place is friggin' amazing.

Hell-to-the-Yes. I still buy CDs, new and used.

hey! Kate Beckinsdale almost naked is not to be missed.

Doubtful. Liquidation sales suck.

Not surprising considering what happened with 'Zavvi' over here. For those in wholesale be sure to get in on the action if they are being administrated and the stock is being auctioned off - dirt cheap box sets and recent new release ahoy...

They lost their virginity?

yeah, when Zavvi stores (formerly Virgin Megastores over here) went the same way, the sale they had didn't really seem any better than buying elsewhere online.

So I've been downloading for no reason?

So the company has been and remains profitable but the trust that holds the leases thinks it can do better with an even more profitable retail tenant?

Remember when they told us to stop all the downloading because it was going to kill brick-and-mortar retail stores?

What I don't understand is why Virgin is just rolling over, I understand that they probably have to, due to lease agreements, but why not just change their site plan and site criteria and relocate to different locations? Are they afraid to not be mega stores?

I think you've missed the point - the parent company thinks they can make more money by shutting down the business and leasing out their buildings. In a way, it makes sense:
- No more staff to maintain: salaries, benefits, etc;
- No warehouses full of inventory to maintain;

You've now eliminated tremendous overhead, don't have to deal with a narrow margin, cuthroat business, and can charge rental rates that exceed the costs of financing the buildings. If it hasn't been made perfectly clear in the current economy, big corps care fuck all for the people at the bottom - it's all about the dollars at the end of them month.

You're right I didn't think of it in terms of the company operating the stores and just really wanting to be property managers. It just seems like if they wanted to be property managers why by the stores at all? But you make a good point.