Sam Ash Music store at, 5700 Mayfield Road in Lyndhurst is shown. (Frank Mecham — The News-Herald.)
Black and red for sale signs, cluttered corners filled with reduced priced microphones, untouched used violins, and empty shelves will be the last things that customers see during Sam Ash’s final days.
The music retail giant which started 100 years ago, announced in May that it will be closing its location at 5700 Mayfield Road in Lyndhurst, along with the rest of its 42 stores due to a Chapter 11 bankruptcy.
In a statement on its website, the company said that it will be having sales on its website, as well as its brick-and-mortar locations.
“It is with a heavy heart that we announce that effective May 2nd, 2024, all Sam Ash Music Store locations will begin store closing sales. This unfortunate news also presents a fantastic opportunity for great deals across our premium selection of musical instruments and pro-sound equipment. We will also be offering specials on samash.com during this time. Thank you for allowing us to serve musicians like you for 100 years Sincerely, The Ash Family”
The national chain has faced issues with liquidity in the past, with court documents filed on May 9 indicating that the company had less than $1 million in cash. In addition, the company owes around $20 million to Tiger Finance, as well as about $20 million in debts to musical instrument suppliers Yamaha Corp, and Gibson and Fender, as well as retail location landlords, according to online reports.
Sam Ash’s 5700 Mayfield Road location, which straddles Mayfield Heights and Lyndhurst border, will be closing by July 23. The date might change if its remaining inventory sells out, in which case it will shut the doors early, according to a source familiar with the store’s operation.
Read More
