Musicland going chapter 11, The news gets worse!

Post by **JWR** » Sat Jan 21, 2006 4:23 pm

I was reading that the Musicland company was going to file Chapter 11 bankruptcy. This will affect a lot of our community due to Musicland is the parent company of Suncoast which a lot Anime collectors rely on for their DVD's. So far I know Suncoast will discontinue carring all Manga and other anime related items like plushies & figures. I am sure that some of the stores in some of the malls around the country will be closed.

I myself buy most of my anime from online stores such as Roberts Anime Corner or Anime Nation but for those who wish to be able to walkin and purchase the latest DVD's thing are going to get a little tougher.

Keropi · Post by **Keropi** » Sat Jan 21, 2006 8:39 pm

That's too bad. I heard about this being a possibility, but I'm sad it had to come to pass. I liked being able to walk over on my lunchbreak to check out the anime DVDs over there.

Well, this was going to happen sooner or later at some point. Paying regular price for anime DVDs is just too expensive in the long run. There are too many cheaper alternatives around now.

Sugarflower · Post by **Sugarflower** » Sat Jan 21, 2006 9:22 pm

That's a shame.

I just read in our local paper yesterday that the 'Treasure Island" craft store chain will be closing down as well.

Tabbykitty · Post by **Tabbykitty** » Sat Jan 21, 2006 10:44 pm

Suncoast is going to stop carrying manga and plushies and whatnot because of their suplier-Ingram. Ingram, unlike a lot of suppliers, is still responsible for paying for their items whether they get paid by their downstream companies or not. So I am sure they decided they would rather not supply suncoast and musicland with manga that they had to pay for but that they would't be seeing a dime back for.

Really it's not much of a surprise-suncoast and musicland charge so much for dvds. If you can get the same dvd at target or best buy for (on average) $5-$7 cheaper, or more in some cases, why would you want to go and pay more? And in this economy, people can't afford it.

Makoli · Post by **Makoli** » Sun Jan 22, 2006 2:15 am

that sucks i loved suncoast and its really the only store in my area that carries anime other then best buy.

Post by **JWR** » Sun Jan 29, 2006 12:41 pm

Well the news gets worse,

As per the Bankruptcy filing the breakdown is as follows:

Funimation is owed 3 mil. ADV 2.3 mil , Media Blasters 1.8 mil , Geneon 1.6 mil , Ventura Dist which reps Viz, Tokyopop & urban vision 5.6 mil total.
These debts are unsecured.
Ingram books who provided all the Manga to Suncoast is owed 10.5 mil which is a secured debt that will be payed 1st before any of the others.

What does this all mean?
1. A lot of anime will be delayed being released , some canceled outright.
2. Extra back stock of older series will not be repressed , When current stocks get sold their gone.
3. Less new anime will get Licensed from Japan, with less money to invest only the most popular that have the most potential for sale in the USA will get licenced.

Keropi · Post by **Keropi** » Sun Jan 29, 2006 1:50 pm

Ah great. They took them down along with them?

This is bad.

This means no Kanon, Air or KimNozo R1 acquisitions until the year 2011-2013.

blueheaven · Post by **blueheaven** » Sun Jan 29, 2006 2:38 pm

The price you pay for selling DVD's at a 25-50% markup. I hated Suncoast. Too bad that this will affect distribution in general.

Cloud · Post by **Cloud** » Sun Jan 29, 2006 2:39 pm

I honestly think you should sit down, take a stress pill, and calmly think things over.

blueheaven · Post by **blueheaven** » Sun Jan 29, 2006 2:40 pm

Cloud wrote:I honestly think you should sit down, take a stress pill, and calmly think things over.

Not a big believer in meds, cloud. The only pills I take are a multivitamin and an aspirin.

Keropi · Post by **Keropi** » Sun Jan 29, 2006 3:47 pm

I checked in at ANN and found this list of probable store closings (includes Sam Goody stores too so you have to know the store #'s to identify which ones they are):

WARNING 3Mb PDF document that takes a LONG time to load:
http://docs.bmccorp.net/musicland/docs/ ... 064_88.pdf

People say this isn't the final document. So details may change in the final document.

Fortunately the only California, Oregon, Washington or Hawaii stores I've visited that is on that list is the one in the Lakewood Mall.

cgscelgallery · Post by **cgscelgallery** » Mon Jan 30, 2006 9:49 am

Both the one where I live(Manassas Mall) and the one where I go to college at are closing(Ballston Commons) are closing. I guess I will have to spend my coupons soon.