Vigin Megastore

"We knew the iconic Virgin Megastore was on its way out, but now we've got a date for the goodbye party. The store closes this coming April; not long after, a Forever 21 will open in its space. Some fun facts: Virgin has the highest volume of music sales in the US, and that location was "profitable to the tune of $6 million," but it was only paying $54/square foot in rent (as opposed to the $700/square foot that's market rate for the neighborhood.) Worrying about the Union Square outpost, Idolator speculates about how long we have "before Other Music becomes the retail powerhouse of New York City by default."" [Racked]

In related news, AC Newman & Nicole Atkins will be performing at the Union Square location on Tuesday, January 20th at 7:00 PM.

And in other related news, Record Store Day returns this year. The date is April 18, 2009. Stay tuned for a list of festivities that will happen in non-megastore type record stores across the country that haven't gone out of business by then. Last year there were sales and in-store shows and and limited editions and free schwag and other fun stuff like that.