Virgin Megastore on Sunset Strip to close
By Susanne Ault -- Video Business, 12/27/2007
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DEC. 27 | Virgin Megastore’s Sunset Strip location is shuttering and has kicked off a 50%-off close-out sale.
Soon to number 10 U.S. locations, Virgin still retains a Los Angeles-area presence with its Hollywood store. Its Sunset Strip spot in West Hollywood, Calif., was Virgin’s first U.S. location and has been open since 1992. The store officially closes on Jan. 31, 2008.
As Virgin’s Sunset Strip lease was expiring in January, it had been expected that the chain may vacate.
In a company statement, Virgin said that an agreement of lease extension terms could not be reached.
Virgin plans to relocate Sunset Strip staff to other positions within the company where possible.
Earlier this year, Virgin closed its Chicago and Salt Lake City locations. Entertainment specialists like Virgin, as well as Trans World’s F.Y.E. brand, have cited continued softening music sales for impacting their businesses.
