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 44 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]

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]

Related Research Articles

<span class="mw-page-title-main">Kmart</span> American retailing company

Kmart, formerly legally registered as Kmart Corporation, now operated by Transformco, is an online retailer in the United States and operates six remaining Kmart big-box department stores — 3 in the US Virgin Islands and one each in Kendale Lakes, Florida ; Bridgehampton, Long Island; and Tamuning, Guam.

Crazy Eddie was a consumer electronics chain in the Northeastern United States. The chain was started in 1971 in Brooklyn, New York, by businessmen Eddie and Sam M. Antar, and was previously named ERS Electronics. The chain rose to prominence throughout the Tri-State area as much for its prices as for its memorable radio and television commercials, featuring a frenetic, "crazy" character played by radio DJ Jerry Carroll. At its peak, Crazy Eddie had 43 stores in four states and reported more than $300 million in sales.

<span class="mw-page-title-main">Macy's, Inc.</span> American department store holding company

Macy's, Inc. is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over the department store chain Macy's. Despite a long history of preserving regional nameplates, with the acquisition of The May Department Stores Company in 2005, they were retired and replaced by the Macy's and Bloomingdale's brands nationwide by 2006. Ultimately, Federated itself was renamed Macy's, Inc. in 2007.

<span class="mw-page-title-main">Winn-Dixie</span> American supermarket chain

Winn-Dixie Stores, Inc., styled as Winn✓Dixie, is an American supermarket chain headquartered in Jacksonville, Florida. It operates more than 546 stores in Louisiana, Mississippi, Alabama, Georgia, and Florida. The company has had its present name since 1955 and can trace its roots back to 1925.

<span class="mw-page-title-main">Sam's Club</span> American membership-only warehouse club chain

Sam's West, Inc. is an American chain of membership-only warehouse club retail stores owned and operated by Walmart Inc., founded in 1983 and named after Walmart founder Sam Walton as Sam's Wholesale Club. As of January 31, 2019, Sam's Club ranks second in sales volume among warehouse clubs with $84.3 billion in sales, behind its main rival Costco Wholesale.

<span class="mw-page-title-main">Guitar Center</span> American musical instrument retailer

Guitar Center is an American musical instrument retailer chain based in Westlake Village, California. It is the largest company of its kind in the United States, with 304 locations.

Tower Records is an international retail franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when Tower Records filed for bankruptcy and liquidation. Tower Records was purchased by a separate entity and was not affected by the retail store closings.

<span class="mw-page-title-main">Sam the Record Man</span> Defunct Canadian record store chain

Sam the Record Man was a Canadian record store chain that, at one time, was Canada's largest music recording retailer. In 1982, its ads proclaimed that it had "140 locations, coast to coast".

<span class="mw-page-title-main">Dean Guitars</span> American electric guitar manufacterer

Dean Guitars, commonly referred to simply as Dean, is an American importer and maker of stringed instruments and musical products with its headquarters in Tampa, Florida.

<span class="mw-page-title-main">Barneys New York</span> Defunct American department store

Barneys New York is an American department store chain founded in 1923 by Barney Pressman. The company operated full-line department stores in the United States from 1923 until 2020. Authentic Brands Group acquired Barneys' intellectual property in 2019, and has licensed the brand to Saks Fifth Avenue for specialty departments within its flagship stores since 2021.

Sam Ash was a violinist, teacher, and entrepreneur, best known as the founder of the Sam Ash Music Store.

Bonton Holdings Inc. operating as Bonton was an American department store chain and group founded in 1898. The former York, Pennsylvania-based company BonTon filed for bankruptcy in February 2018 and sold the name to CSC Generation, which sold it to BrandX.com in 2021, operating an e-commerce site under the brand name. Along with Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's, and Younkers, the names of most of the defunct retail group's department store chains are owned by BrandX.

<span class="mw-page-title-main">Gordmans</span> Defunct American retailer

Gordmans was a retailer founded in Omaha, Nebraska. The chain is owned by BrandX as of May 2022. In 2019, Stage Stores began converting other retail chains it owned into Gordmans stores, with the goal of having 700 Gordmans stores in 42 states by the end of 2020. In May 2020, Stage Stores filed for Chapter 11 bankruptcy and began liquidating its stores. Although a buyer for Stage could have prevented liquidation, Stage later announced that they would proceed with going out of business sales at all locations. There is one store in the town of Algonquin, Illinois.

<span class="mw-page-title-main">The Children's Place</span> Childrens clothing retailer

The Children's Place Inc. is an American specialty retailer of children's apparel and accessories headquartered in Secaucus, New Jersey. It also markets apparel under the Children's Place, Place, Baby Place, and Gymboree brand names.

Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th-largest retailing company in the United States in 2015. It filed for Chapter 11 bankruptcy on October 15, 2018, and sold its assets to ESL Investments in 2019. The new owner moved Sears assets to its newly formed subsidiary Transform Holdco LLC and after that, Sears Holdings Corporation was closed.

<span class="mw-page-title-main">NAMM Oral History Program</span> Interviews with music products industry

The NAMM Oral History Program is an oral history project and archive of recordings of interviews with people from all aspects of the music products industry, including music instrument retailers, musical instrument and product creators, suppliers and sales representatives, music educators and advocates, publishers, live sound and recording pioneers, innovators, founders, and musicians.

Manny's Music was an American music instrument store in New York City on Music Row, Midtown Manhattan, where musicians from beginner to professional could buy their instruments and meet each other. Many artists bought their first guitar from Manny's before they became famous. The store was in business from 1935 to 2009, seventy-four years. Manny's relaunched in 2024 after the brand was acquired by Vista Musical Instruments.

<span class="mw-page-title-main">Lake Success Shopping Center</span> Shopping mall in North New Hyde Park, New York

The Lake Success Shopping Center is a major shopping center in North New Hyde Park in the Town of North Hempstead, in Nassau County, New York, United States. It is located on Union Turnpike, just east of Nassau County's border with the New York City borough of Queens. It is managed by Lake Success Shopping Center LLC.

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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.