This is not what we wanted to see on our lunch break. A couple of days after Record Store Day got us feeling good about the fate of local record shops, there’s a sign on the window of Kim’s Video & Music announcing a Store Closing Sale.
A clerk wasn’t able to give details (we’re waiting for a call back from management), but the store made this announcement of Facebook today:
As great as #RSD2014 was (thank you all!), sadly we will be closing our store on 1st Ave. No closing date yet but 30% off ALL VIDEO and MUSIC. (all formats and NRs as well).
Major bummer for anyone who’s watched the Kim’s empire dwindle from its multiple video rental stores to its one shop on First Avenue. But not exactly a surprise: when The Local East Village spoke to owner Yongman Kim in 2012, he said, “We are operating the one location not for profit making. I feel I have an obligation to be there to the neighborhood and the Kim’s followers.” He said business hadn’t been the same since 2000: “The turning point was 2001 when it slowly declined and then again in 2005 until now. We never bounced back.” In 2008, his landlord gave him a 25 percent rent break, which made it easier to keep going despite the advent of Netflix and the decline of CDs and DVDs.
“I would like to continue with this store for at least five years,” Kim said. “Kim’s Video as an idea and concept was born in the Village and I would like a few more decades with that. I can promise for now that I will be staying there.”
And now Andrew WK has to feel even guiltier about stealing from Kim’s.