Maybe calling it a megastore was, like, flying a little too close to the sun. A few months back Virgin announced plans to close its massive Times Square retail location; now the company says it will shutter two more branches: Union Square in NYC and Market St. in San Francisco.
The big shakeup stems from an August 2007 deal in which two real estate firms, the Related Cos. And Vornado, took over Virgin Entertainment Group North America. Shortly thereafter, the new owners had at the megachain, so to speak, going from 11 stores, to 10… and so on down the line.
You know we’ve embarked on a new stage in history when we start to feel nostalgia for dehumanizing corporate machinery. [Billboard]