Business Services Industry
Musical Instrument Retailer Plans to Close Salt Lake City Store.
Knight Ridder/Tribune Business News, January, 2002
By Lesley Mitchell, The Salt Lake Tribune Knight Ridder/Tribune Business News
Jan. 11--Mars Inc., one of the nation's largest retailers of musical instruments, said it is closing one of Utah's biggest music stores in Salt Lake City.
The 30,000-square-foot Mars Music store is one of eight the Fort Lauderdale, Fla.-based company will close in the southern California, Salt Lake City, Philadelphia and Denver areas.
"The Salt Lake store's revenues just weren't meeting our expectations," said Michael Yackira, vice president and chief financial officer. "Like many retailers, we are facing a downturn and we had to take the difficult and important step of reducing our store base."
The company employed about 40 people in Salt Lake City who...
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