Well, this sucks.
A&B Sound is a landmark in Victoria and other (Western) Canadian cities. For many years it was the cheapest place to buy music, movies, and electronics -- their Boxing Day sales are part of local legend. But, with competition from big box stores like Future Shop, Costco and Wal-Mart; an ever-more vacant downtown core (businesses nearby have been folding for years and there are way too many storefronts featuring "for lease" signs); and even (maybe) the impact of file sharing, A&B Sound has filed for creditor protection in the face of a buyout followed by reorganization and restructuring of the company. Included in the plan is "strategic store relocation." My guess? The Victoria and/or Nanaimo stores -- both located in decaying/struggling downtown neigbourhoods -- will be among those moved or maybe even closed.
Full story from the Canada NewsWire.
20 January 2005
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