J&R Music and Computer World closed down in April 2014 after facing significant financial struggles, notes New York Daily News. A main reason for the closure was competition with other companies in the electronics industry. After closing down, the company opened a new location in Manhattan called J&R Express, and this store sells electronics and media items like the products sold at J&R Music and Computer World.Continue Reading
J&R Music and Computer World first opened in 1971 and started facing financial issues in 2006, after the first J&R Express location was opened, which shut down in 2012. The company chose to enter the online sales arena and was profitable for a time. However, the company faced more financial struggles and went through additional consolidations in 2013 and a liquidation in 2014, which effectively closed the main store. Auctions were held to get rid of the remaining items, the company website went offline and the company stopped adding new items to its online storefronts. However, the company had redevelopment in mind for another brick-and-mortar location.
J&R made big plans for its J&R Express location in the Century 21 department store, which opened in November 2014. This location would feature special events such as meet-and-greets with musicians and live performances.Learn more about Corporations