‘Bye Bye Bye’ - Musica to shut its doors in May
Entertainment store Musica will
shut its doors on 31 May in another blow to the sale of physical
albums and DVDs.
The announcement was made by Clicks chief executive Vishesk Ramsunder on Thursday.
Clicks is the owner of Musica.
The closure of the once-popular retailer comes after 29 years of operation, with its first store having opened its doors in 1992.
Since the beginning of 2021 financial year, Musica has closed 19 stores.
The remaining 59 outlets will be closing in the next few months.
“The remaining stores will be closed as leases expire over the next four months when the majority of leases terminate,” read the statement.
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In stores that have closed since last year, Musica staff have been absorbed into the group’s expanding health and beauty store network.
“Management is committed to accommodating the remaining staff within the group where this is operationally feasible.”
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Musica has been operating in a declining market for several years as a result of the digital consumption of music, movies and games.
The demise of the brand has further been exacerbated by the impact of the Covid-19 pandemic.
“Further detail on the financial and operational impact of Musica’s closure will be communicated to shareholders with the release of the group’s interim results in April 2021,” the statement concluded.
