Virgin Megastore in times square is closing. They are getting kicked out because they only pay 51 dollars a sq foot in rent while the going rate in that area is 14 times more at 700 a sq foot. Virgin Time Square is the biggest music seller in the entire country so thats a huge blow to music industry. Also The union square store is facing the same thing. I love that store and its the only place in the city I always visit when I am there. Even if I dont buy anything I just love going there.
Also Circuit City Announced today that they are closing every store and starting tomorrow every store will start to liquidate its inventory. This will cut 30,000 more jobs in the shitty economy as well as create a giant empty store in almost every mall in America at a time where the economy is keeping anyone else from filling that spot.
Tough Times.
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