May 16, 2008 |
The gig: Chief executive of Virgin Entertainment Group, which runs Virgin Megastores and Virgin Cinemas. Wright's decision to sell more clothing, games and electronics and less music in the face of declining CD sales has helped the retail side thrive. -- His background: Born in England but conceived in California (his parents used to live here), Wright says "it was almost my destiny to end up in Los Angeles." -- First job: Selling ice cream and doughnuts on the beach in southern France.
December 27, 2007 |
Another one bites the dust. The Virgin Megastore on Sunset Boulevard in West Hollywood, just down the street from the shuttered Tower Records, will close when its lease is up in January. The rent is simply too high, Simon Wright, chief executive of Virgin Megastores North America, said Wednesday. "We're trying to reposition the business," Wright said, "and a lot of our stores are too big for the future, primarily due to the drop in music sales." The chain -- which Related Cos.
August 18, 2007 |
Related Cos. agreed to buy Virgin Megastores North America and its 11 music stores. The sale will close in September, Related Cos. said in a statement distributed by PR Newswire. The price wasn't disclosed. Virgin Megastores is part of Virgin Entertainment Group. Related, led by Chairman Stephen Ross, gains 400,000 square feet of retail space with the acquisition of the stores, which include locations in New York, California and Texas. Related last year bought Equinox Holdings Inc.'
CALIFORNIA | LOCAL
June 29, 2005 |
The announced closing of a second national retail store at Triangle Square has dealt another blow to the struggling Costa Mesa shopping center and the city's effort to breathe new life into its commercial core. The Virgin Megastore declined to sign another lease and will close Sept. 22, company officials said. The Triangle Square location is not a good fit, and the music retailer will look for a new Orange County location, a company spokeswoman said.
February 23, 2005 |
Virgin Entertainment Group Inc. will open a new entertainment-oriented "megastore" in Hollywood this fall at Hollywood & Highland as part of a campaign by the owners of the massive retail complex to attract more shoppers. The 22,000-square-foot store, which will be announced today, will sit between the landmark Grauman's Chinese Theatre and the Kodak Theatre, home of the Academy Awards.
CALIFORNIA | LOCAL
July 13, 2003 |
The driver of a convertible was critically injured when she hit two cars and crashed into the Virgin music store on the Sunset Strip on Saturday afternoon, police said. A 59-year-old woman lost control of her Chrysler convertible and struck a car at the Sunset Boulevard and Crescent Heights intersection. The convertible then lurched into a gas station parking lot, hitting another car before it hurtled across the street into the side of the music store, said LAPD Lt. Joseph Peyton.