Virgin Union Square To Shut Down

It looks like "Another One Bites the Dust" is the only song that will be spinning at the Union Square Virgin Megastore after it closes this spring. By the end of May, both the Union Square store in New York City and the Market St. store in San Francisco will be added onto the list of locations shutting their doors, in addition to the music and media chain's closure of its staple store in New York's Time Square, which will be happen this April.

According to Billboard, Virgin's reason for the rapid closures of it's retail locations is largely due to the Virgin Entertainment Group North America being acquired by two real estate companies, which has reduced the chain from it's original 11 units. The fate of the other Virgin Megastores is still unknown, but right now it looks as if those locations could be in hot water as well.

It looks as if Virgin is just another victim to the whirlwind of an economic downfall affecting the media industry. Circuit City is still in its liquidation phase after filing for bankruptcy just a few months ago, and if the $40 million-a-year revenue that the Union Square store makes isn't enough to keep that particular Virgin retail location afloat, we fear that inevitably the rest of the corporation could find itself sinking in that economic sea of impending doom.

For now, the only remaining Virgin store locations will be in Denver, Los Angeles, and Orlando, Florida, and thus far the online Virgin store is still up and running as well.

Virgin Union Square To Shut Down