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The R.P. Sanjiv Goenka-owned music retail store, Music World, is being shut down.
Complete closure of operations are expected to happen by the end of July. The last store to close down will be its Park Street store in Kolkata.
According to a release by Music World, the business had become "unviable" considering a "shift in consumer preferences towards music and video downloads".
Music World had seven outlets all in West Bengal. According to a company spokesperson, "the process of consolidation" had begun for over a year now. Sales across outlets have halved over the last one year.
The first Music World store was opened in Chennai in 1997.
All employees of Music World, a senior RP-Sanjiv Goenka Group official said, will be absorbed across the other group entities.
Music World to shut down operations - The Hindu Business Line : Mobile Edition
Complete closure of operations are expected to happen by the end of July. The last store to close down will be its Park Street store in Kolkata.
According to a release by Music World, the business had become "unviable" considering a "shift in consumer preferences towards music and video downloads".
Music World had seven outlets all in West Bengal. According to a company spokesperson, "the process of consolidation" had begun for over a year now. Sales across outlets have halved over the last one year.
The first Music World store was opened in Chennai in 1997.
All employees of Music World, a senior RP-Sanjiv Goenka Group official said, will be absorbed across the other group entities.
Music World to shut down operations - The Hindu Business Line : Mobile Edition
