2024 Year in Review: In March, retail giant Sam Ash Music announced it was preparing to close 18 of its 44 locations across the U.S., including its Manhattan flagship store.
Two months later, the company revealed it would be going out of business and liquidating the remaining 27 stores, bringing an end to 100 years of service to the music community.
The revenue losses were blamed on rising rental costs as well as other challenges faced by business in the aftermath of the pandemic.
Not long after, Mexican-based retailer Gonher ended up purchasing the remaining assets at bankruptcy auction for $15.2 million, and the Sam Ash online store was reopened for sales.
