Monday, March 2, 2009

The Grim Reaper comes for Virgins (Virgin Megastores, that is)

Posted By on Mon, Mar 2, 2009 at 11:19 PM

click to enlarge Virgin

Remember the Virgin Megastore in the Jax Brewery? The three-story, 34,000-sq.-ft. emporium of music, DVDs, books, and pop culture kitsch opened with great fanfare in 1998, but was another casualty of Katrina. Turns out its closing was just the harbinger of things to come:

Virgin Megastores’ five remaining retail stores will close by this summer, individuals inside the company told TheWrap on Monday, signaling the end to a once-dominant consumer retail behemoth....

The chain, once a looming presence on the American pop culture scene, boasted 11 stores when it was acquired but now operates only six.

Virgin Megastore's founder Richard Branson opened his first record shop on London's Oxford Street in the early 1970s. Branson, who sold the Virgin Megastores in 2007, now owns around 200 companies in over 30 countries.

Pretty soon all that'll be left will be online music downloads (legal and otherwise) and local music stores.

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