Another One Bites The Dust As Indie Retailer Rhino Closes In LA

Just when we were reporting some optimism in the indie music retailer sector from the CIMS stores (complete story here), comes the sad news that Richard Foos’ flagship Rhino retail store in the Westwood section of LA has lost it’s lease and will be closing for good. Foos told the LA Times that it "had become very apparent that it was too difficult to go on."  The store plans a Jan. 21 parking-lot sale that will be "part wake, part fire sale".

This comes on the heels of the announcement last month that LA’s landmark Aaron record shop is also closing. An outfit called The Almighty Institute Of Music Retail claims that more than 1000 stores have closed in the last three years and that coupled with chain music store closings the number of standalone music retailers is down from 5000 a decade ago to 2800.

Read the full LA Times story here. Free registration may be required.