An unexpected retailer is now closing all stores in California after serving its fan base and customers for an astonishing 100 years.
Iconic musical instrument retailer Sam Ash has announced it will be closing all of its retail locations nationwide.
The company, which had a significant presence in California with seven stores, has begun store-closing sales at all its locations.
Founded in 1924, Sam Ash Music has been a staple for generations of musicians.
It offers a premium selection of musical instruments and pro sound equipment.
The news came via a social media post from the company, stating the following:
“It is with a heavy heart that we announce that all Sam Ash Music store locations will begin closing sales today.
This unfortunate news also presents a fantastic opportunity for great deals across our premium selection of musical instruments & pro sound equipment.
We will also be offering specials on samash.com during this time.
Thank you for allowing us to serve musicians like you for 100 years.”
Signs of trouble had emerged earlier this year when the New York-based company reportedly moved to close nearly 20 locations, including its flagship store its flagship store in Midtown Manhattan.
Now the following stores are set to close in California:
- 18031 Gale Avenue, City Of Industry
- 7360 Sunset Blvd, Los Angeles
- 7401 West Sunset Boulevard, Los Angeles
- 4449 Mills Circle, Ontario
- 3418 College Ave, San Diego
- 18831 Hawthorne Blvd, Torrance
- 14200 Beach Boulevard, Westminster
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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois
Other Economy News Today
A massive clothing retailer is now closing all 540 stores in just six weeks after unexpectedly filing for bankruptcy.
Liquidation sales will be held at rue21 outlets across the US as bosses rush to clear the last remaining stock.
The clothing retailer has entered bankruptcy and bosses have announced plans to close all 540 remaining stores within six weeks, reports The US Sun.
It is the third time in less than 25 years the fashion retailer has entered bankruptcy, per Bloomberg.
Court documents seen by Reuters revealed the company has more than $190 million of debt.
The chain has 540 stores across the US and 4,900 workers are set to be impacted.
Outlets are to slam shut within four to six weeks, according to court papers.
Bosses also announced plans to sell the company’s intellectual property.
The company narrowly avoided going into bankruptcy in October 2022.
Chiefs filed for bankruptcy in 2017 as they rushed to clear around $700 million worth of debt.
Bosses shuttered 400 stores as well and renegotiated leases.
Execs identified the rise of online shopping and changing consumer trends as reasons behind the bankruptcy.
Michele Pascoe, the interim CEO, also alluded to the impacts of competition and inflation.
The company also filed for bankruptcy in 2002.
At its peak, the company had more than 1,000 stores across the US.
The chain has dozens of outlets across several states, including Florida, Georgia, Illinois, North Carolina, Pennsylvania and Texas.
The teen fashion retailer is not the only clothing chain that has entered bankruptcy over the past year.
Last month, Express chiefs filed for bankruptcy, and at least 100 stores are set to close.
Also Read: Retirees Will Now Receive More Money For Social Security
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