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Shoppers just aren't going to stores as much as they used to. Consumers are both spending less and ordering more online, which has caused issues for many retailers. Companies like Bed, Bath & Beyond, Tuesday Morning and Christmas Tree Shops declared bankruptcy, while stores like Sears, Walgreens, CVS, Foot Locker and more are closing locations as a cost-cutting measure. Well now, an iconic brand is joining their ranks. Sam Ash Music, the 100-year-old music equipment chain, is shuttering nearly half of their stores.
The company will close 18 of their 44 locations across the country, including their beloved flagship New York City shop, where liquidations signs are already in the windows. The same is true for branches in other states.
In a statement, the company explained, "For the last 100 years, Sam Ash Music has successfully adapted to meet the challenge of changing business conditions. As we look towards the next 100 years, the company must continue to adapt to ensure its continued success. Sam Ash Music remains committed to keeping a strong physical store footprint in the future while we continue growing our successful online sales offerings. As part of this restructuring, the company is closing several stores nationwide. This restructuring is emotionally tough, but we are confident these moves will make Sam Ash Music stronger as we continue serving the music community into the future, as we have for the past 100 years."
The affected stores will be closed for good in the coming months.