Another sad reminder of tough times, Discount Auto Sound of Virginia Beach, VA closed its doors 3 weeks ago after 27 years.
A fixture in the car stereo market, the chain once brought in almost $10 million a year, but said business was hurt especially with the recession. Owner Les Ore closed the 3-store and distributor operation without filing for bankruptcy. The store locations have been leased to other retailers and many of the store’s employees are working for the new retailers.
He said of the car stereo business. “The industry is tough…it just got to the point where we weren’t making the money…with the economy, it’s just tough.”
As for Ore, he entered the new home construction business 18 months ago. He’s a partner in a firm which expects to build 16 homes this year and up to 30 homes next year. “I’ve made a lot of money in the past. I have nothing bad to say about the industry. It was just my time to be done,” added Ore.
Source: CEoutlook
Photo via Google Maps
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Oh, and the internet stores/websites are not helping, when they sell car audio products below our small business cost…..Thus, the Brand named companies Pioneer, Sony, Kenwood, Alpine and more etc. should put their foot down and pull their products from them for not selling at the standard retail prices because it does Beat up on local stores
Yes, its very sad and they were some good guys…As, for Chicagoland Area 7 stores have closed also, so we cannot imagine how many within each state have closed their doors. Its bad out there and people are not seeing car audio as a need, but we can only just keep trying.