Inside a closing Sam Ash Music retailer

Sam Ash Music appeared to begin the yr on a excessive observe. Based in New York Metropolis in 1924, the family-owned and operated music retailer was poised to mark its one hundredth yr in enterprise. However indicators of bother started to emerge within the spring.

In fiscal yr 2023, Sam Ash’s brick-and-mortar retail gross sales of musical devices generated greater than $145 million in income, in line with court docket paperwork. The corporate’s e-commerce operation generated $42 million in income and Sam Ash’s Samson section, which designs, markets and sells skilled audio gear to different retailers, generated over $33 million final yr.

Nonetheless, in March, studies surfaced that the corporate was closing about 20 shops, together with its flagship location on thirty fourth Avenue in New York Metropolis. In Might, the corporate introduced it might shut all 42 of its shops in 16 states. A few week later, Sam Ash Music filed for Chapter 11, claiming $100 million to $500 million in each belongings and liabilities.

A chapter court docket choose about two months later accredited a $15.2 million deal the place Mexican music retailer Gonher was declared the profitable bidder for many of Sam Ash’s belongings. As a part of the deal, Gonher obtained Sam Ash’s merchandise — excluding retailer closing sale belongings — mental property parts, logos, social media accounts, web domains and buyer information.

In court docket paperwork, the corporate stated “adversarial market situations,” together with the pandemic, drove gross sales down. Moreover, Sam Ash stated its income declined during the last 5 years, it had too many places and it was too closely depending on in-store site visitors.

One of many 42 shops Sam Ash Music operated on the time of its chapter submitting was within the Richmond space of Virginia. Right here’s what that retailer seemed like throughout its final week in enterprise.

Though it had a Richmond deal with, the placement at 9110 W. Broad St. was really in Henrico County, about 12 miles east of the town’s downtown. The music retailer occupied a constructing shared with a Worth Metropolis Furnishings retailer. A list from industrial actual property firm J.C. Bar signifies almost 32,000 sq. ft of property is accessible for lease. The retail area has outstanding visibility, together with “giant signage and ample parking,” in line with the itemizing.

One of many firm’s former rivals, Guitar Heart, occupies a storefront in a shopping mall subsequent door. The shop was in a busy retail hall, with the Brookfield Properties-owned Brief Pump City Heart open-air mall about 5 miles west alongside the identical street.

On July 13, about two months after the corporate introduced the shop closures, the Richmond location had almost reached its remaining week, with simply eight days in enterprise left, in line with an indication contained in the entrance of the shop. On the outside, a big yellow and black banner was beneath the Sam Ash marquee that learn “STORE CLOSING.” On one other pillar, a separate signal marketed that the shop fixtures, furnishings and gear have been on the market.

One other easel inside displayed reductions out there on choose merchandise. By far, essentially the most closely discounted merchandise within the retailer was printed sheet music. Purchases of 15 or extra items of sheet music have been out there for 95% off. The following largest reductions, in line with posted indicators, have been 80% off movies and 70% off woodwind instrument reeds, adopted by 60% off choose drum equipment.

On that Saturday afternoon, particular person gross sales ground areas that beforehand housed audio recording and DJ gear, high-end acoustic guitars and drums have been closed, with their doorways shut or blocked.

Different indicators posted across the retailer indicated that every one gross sales have been remaining, whereas different indicators defined that every one service plans, substitute plans, present playing cards, retailer credit and present certificates ended on June 7.

The out there merchandise included a mixture of new and used, in addition to scratched, dented or broken musical devices and equipment. 

They have been combined with show fixtures, furnishings, pc displays and a set of seasonal vacation decorations that have been probably used to decorate up the shop.

The guitar and drum sections appeared to have the most important choice of merchandise remaining on the time. Not less than a pair dozen guitars have been nonetheless displayed on the market on the wall, as have been amplifiers and some higher-end electrical and acoustic guitars in glass circumstances.

They included a Fender Precision bass discounted 40% from $1,850 to $1,100.

A few half dozen new and used drum kits have been out, together with about 12 extra new in-the-box drum kits starting from newbie fashions to high-end Drum Workshop kits.

A choice of drum heads was marked right down to 70% off, which means that name-brand drum heads by Remo, Evans and Aquarian that usually bought for about $25 every have been out there for about $6.50. Most different music equipment, like new cables, guitar strings and drumsticks gave the impression to be gone.

Elsewhere within the retailer, different merchandise on supply included a Gemeinhardt flute marked down 50% from $1,500, a twin 18-inch JBL subwoofer speaker marked down 40% to $2,477 and violins marked down 50% from $250 to $125.

In early September, the retailer posted messages indicating “The Subsequent Chapter, Coming Quickly” throughout its social channels. That messaging displays that Gonher plans to relaunch the web site within the coming months, Alex Valdés, Gonher Group advertising supervisor, informed Retail Dive in an e-mail. “There are at present no plans to reopen bodily shops, our total technique shall be targeted on on-line gross sales,” Valdés stated.