Sam Ash Music

Last updated
Sam Ash Music Corp.
Company typePrivate
Industry Musical Instruments
Founded1924;100 years ago (1924)
Founder Sam Ash
Defunct2024
Fate Liquidation
Headquarters
Hicksville, New York
Number of locations
27 (by May 2024) [1]
Products Musical instruments, Recording equipment and accessories
Revenue$360M [2]
Number of employees
995
Website www.samash.com

Sam Ash Music was founded in 1924, and was the largest family-owned chain of musical instrument stores in the United States, with 45 locations in 16 states. [3] [4] With corporate headquarters in Hicksville, New York, Sam Ash sold musical instruments, recording equipment, DJ and lighting equipment, and professional sound.

Contents

History

Early years

Musician Sam Ash and his wife Rose, whose families had emigrated from Eastern Europe to Brooklyn, New York when they were children, opened what would become the first Sam Ash Music Store in 1924 as a way to transform Sam's work as a violin teacher and gigging musician in the Sam Ash Orchestra into steady income. Over the next ten years Sam and Rose had three children, Jerome (Jerry), Paul, and Marcia, who all took an active role in the family business.

In 1944 the Ash family moved their business to a new Brooklyn location on 236 Utica Avenue, gradually expanding the store's initial offering beyond sheet music, music instrument repairs, and phonographs, and capitalizing on area school music programs by delivering sheet music and stocking a growing selection of band instruments. In the 1950s as rhythm and blues and rock and roll gained popularity, Sam Ash was among the first stores in the area to add guitar brands like Gibson and Fender, as well as a record shop begun under the supervision of 15-year old Paul, which at one point accounted for nearly half the store's overall revenue. [5]

Multi-store growth

Sam declined his son's requests to expand the original store to additional locations, but in 1961, five years after his death, Paul and Jerry (then company president and chairman, respectively) expanded into Long Island and Westchester County, opening new stores in Hempstead, Huntington and White Plains. By 1990, there were eight Sam Ash Music stores in the New York area, and in 1992 the first Sam Ash Music store outside the New York area opened in Cherry Hill, New Jersey.

West 48th Street's Music Row

In 1969, the company established a presence in Midtown Manhattan on West 48th Street's Music Row, a location they gradually expanded. By the late 1980s, after acquiring several struggling competitors, Sam Ash Music's presence dominated the block with an amalgamation of six storefronts with 12 entrances in nine buildings on both sides of the street. [6] In 1999, the company acquired 64-year Music Row mainstay Manny's Music, which they continued to operate under the same name and management. [7] In 2012, facing rising rents and redevelopment, Sam Ash Music relocated the flagship 48th street store to a new location at 333 West 34th Street. [8] [9]

Third generation

Following Paul's death in 2014, management shifted to a third generation of Ash family, Jerry's sons David, Richard, and Sammy. [10] Sam Ash Music remains family-owned, with a fourth generation of family members already employed by the company. [11] Sammy Ash, who served as COO reportedly died on 16 September 2023 following a battle with cancer. [12]

Store closures, bankruptcy and liquidation

In March 2024, the company announced the closure of 18 stores nationwide, nearly half of its locations, [1] [13] [14] including the Manhattan flagship store, [15] originally located on the famed 48th Street "music row". [16]

On May 2, 2024, Sam Ash announced that after 100 years, the company would be going out of business and liquidating the remaining 27 stores. The company blamed expensive rent costs at many of its locations that led to major losses. Liquidation sales began at stores and online on May 2, and all 45 stores were expected to conclude liquidation sales and shutter by July 2024. [17] The company was looking for a potential buyer to purchase its IP to keep the chain and online presence open. The company also stated it had no plans to file for bankruptcy. [18] However, after failing to find a buyer, Sam Ash filed for Chapter 11 bankruptcy protection on May 8, 2024, blaming declining sales caused by the COVID-19 pandemic. The company owes around $20 million to Tiger Finance and an additional $20 million to landlords and suppliers, including Yamaha, Gibson, and Fender. Around the same time of the filing, Tiger Finance offered to purchase all of Sam Ash's assets and will raise $20 million to fund the bankruptcy proceedings. [19] [20]

On June 20, 2024 Mexican-based retailer Gonher purchased 'substantially all' of Sam Ash Music's assets at bankruptcy auction [21] . The winning bid was $15.2 million, according to court documents. As of August, 2024, the Sam Ash online store (SamAsh.com) has reopened for retail sales.

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References

  1. 1 2 Weller, Phil (2024-03-08). "Iconic gear retailer Sam Ash Music reportedly set to close 18 branches nationwide – including its flagship New York store". guitarworld. Retrieved 2024-03-11.
  2. ↑ "issue_id":512088,"page":92} "The Top 200: Ranking America's Leading Music Products Retailers: Ranked by Revenue". The Music Trades. 166 (7): 92. August 2018. Retrieved 23 December 2018.
  3. ↑ "Long Island Music Hall of Fame: Sam Ash". Long Island Music Hall of Fame. Long Island Music Hall of Fame. Retrieved 24 December 2018.
  4. ↑ "Retail Spotlights: Sam Ash Music". Retail Merchandiser. Retrieved December 23, 2018.
  5. ↑ Martin, Douglas (10 February 2014). "Paul Ash, Who Made Music Store a Chain, Dies at 84". The New York Times Company. The New York Times. Retrieved 21 December 2018.
  6. ↑ "issue_id":122891,"page":42} "End of an Era". The Music Trades. 160 (8): 42–26. September 2012. Retrieved 23 December 2018.
  7. ↑ Macfarquharaug, Neil (4 August 1999). "Manny's, Haven for Musicians, Is Sold to a Chain-Store Rival". The New York Times Company. The New York Times. Retrieved 23 December 2018.
  8. ↑ Ferris, Marc. "Turning down the sound on Times Square's music row". The Real Deal. Korangy Publishing Inc. Retrieved 21 December 2018.
  9. ↑ "Saying Farewell to NYC's 'Music Row'". The Music & Sound Retailer. 29 (9). September 2012. Retrieved 23 December 2018.
  10. ↑ "David Ash: Behind the Music". Long Island Business News. Long Island Business News. 21 January 2005. Retrieved 26 December 2018.
  11. ↑ Wissmuller, Christian (January 2019). "Don Johnson Music Industry Service Award: Jerry and Sammy Ash of Sam Ash Music Corp". MMR Musical Merchandise Review. 178 (1): 44–45.
  12. ↑ "Sam Ash Music's COO Sammy Ash Passes Away". Music Inc. Magazine. Music Inc. Magazine. 18 September 2023. Retrieved 16 October 2023.
  13. ↑ Zaretsky, Mark. "Sam Ash patrons singing the blues about New Haven store closing". New Haven Register. Retrieved 2024-03-11.
  14. ↑ "Clearwater Sam Ash Music Store Among 18 Closing Nationwide". Sarasota, FL Patch. 2024-03-05. Retrieved 2024-03-11.
  15. ↑ Bauman, Ali (2024-03-08). "Sam Ash's Midtown Manhattan location set to close its doors - CBS New York". www.cbsnews.com. Retrieved 2024-03-11.
  16. ↑ Donnelly, Tim (2015-08-01). "NYC's famous Music Row is about to be a ghost town" . Retrieved 2024-03-11.
  17. ↑ "Sam Ash Begins Closing All Music Stores". The Rock Revival. May 2, 2024. Retrieved May 2, 2024.
  18. ↑ "Sam Ash Music Hunts for Buyer as Stores Close Down, Family Owner Says". The Wall Street Journal. May 5, 2024. Retrieved May 5, 2024.
  19. ↑ "Sam Ash Megastores, LLC files for bankruptcy". BKData. May 8, 2024. Retrieved May 8, 2024.
  20. ↑ "Sam Ash files for Chapter 11 bankruptcy after 100 years in music business". New York Post. May 8, 2024. Retrieved May 12, 2024.
  21. ↑ Post; Share; Post; Print; Email; License. "Sam Ash assets acquired for $15.2M". Retail Dive. Retrieved 2024-08-27.{{cite web}}: |last5= has generic name (help)
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