Will They Meet 40 Virgins in Heaven?

Virgin Megastore will leave large hole in Union Square when they close up shop. And where will the guys pushing home-made CDs go?

Not too long ago, when Virgin's neighbor, Circuit City, shut down we predicted that Virgin could not be far behind. Honestly, we don't know how they lasted this long (maybe they got a cut from the guys hawking their home-made CDs out front?).

This building is owned by Related Management who has one retail tenant left, Union Square Wines, which looks to be in good shape so far. The Regal Cinema is also in this building and no sign of collapse there either. And there's an MRI business in the basement, if you're keeping track.

Rocky Mountain News Has Peaked

...for the Last Time.

Colorado's oldest newspaper will publish it's last edition this Friday. Sadly, Rocky Mountain News was not able to find a buyer. The debt-ridden New York Times was in a similar position and was able to find an investor in Carlos Slim. We're not sure how that is working out.

Start collecting folks, these old birdcage liners are falling off the perch one by one.

Did you get burned by Hollywood Tans? They are GOOB.

Hollywood Tans on 6th Avenue near 10th Street has gone out of business. They are the largest national chain of tanning salons with over 300 locations (franchises) across the country. If you are in the market for some home tanning equipment it seems that their bank is liquidating all the beds and other potentially unsafe equipment.

One local Brooklyn woman almost got "burned" after she paid $211.86 for ten tanning sessions and found out that after her fifth tanning session her local Hollywood Tans branch went out of business. She contacted a local news station and got her money back. The station offered some helpful GOOB tips on their blog:

1. To protect yourself and the services you've paid for with companies that may go out of business, always ask for paperwork, like a contract or receipt during the initial transaction.

2. Ask the business about what will happen, "if" they were to close or go out of business. Find out what your recourse is should something go wrong.

3. If they don't respond or can't respond, its up to you if you want to do business with them.

In further bad news for Hollywood Tans, a lawsuit surfaced recently where it was alleged that Hollywood Tans and its leasing company induced certain people into “entering into unconscionable franchise agreements, defrauded them by sending them deceptive and inflated invoices, and violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”).

Retail Space Available

World Trade Camera Ltd. is no longer trading cameras around the world or open for business. The ominous Retail Space Available signs went up at 20 Vesey Street recently.

This closure had an impact on Amelia, one unfortunate New York photographer who posted this short review: ‎"They closed without any notice and took my film with them. What else can I say? They want 100 characters, but that says it all."

It's a good location for a business - nearly right across the street from the WTC.

Models Exposed!

Modeling agency Gilla Roos closed its doors last Friday claiming bankruptcy. Funny, they just hired someone a few weeks ago - didn't they see this coming? Too bad for the models. Because the industry standard is about net 90 days for payment anyone who worked for this agency since last November probably won't get paid. Gilla Roos represented real people who took time off from lunch to go to castings, who sacrificed lots of time and Metrocard swipes to show up at castings. Sad to see these hard-working folks get screwed.

R&G Models also folded last week and agencies Innovative and CED are rumored to have cut back on their staff.

King of Pop GOOB

If you have always coveted Michael Jackson's MTV award from 1994-1995 for Best Group Video, you're in luck. You can snap it up for a measly six grand. Since MJ's Neverland Ranch has GOOBed, you can attend the auction (read virtual yard sale) and buy all manner of wacko Jacko memorabilia including the humble oil painting depicted here (we hope it was donated by a fan and not commissioned).

Philly Daily News Meets Last Deadline

The latest to go GOOB is a newspaper publisher. Okay, they aren't GOOB yet, but they are seeking protection in the way of Chapter 11. And by "they" we mean Philedelphia Media Holdings, the owners of both the Inquirer and the Daily News, both big Philedelphia newspapers.

Publicis' Honeyshed Goes GOOB

Publicis tried to merge MTV-style entertainment with QVC-style ka-ching in a project called Honeyshed (not many URLs that make sense are left, huh?). Nothing doing. MTV and QVC styles, mindsets, and audiences seem like strange bed-fellows so we're not surprised the attempt went kaput.

Another sign that Honeyshed wasn't long for this world? The colors in its logo seem chosen to fit in on Going-out-of-business.blogspot.com. We welcome you Honeyshed.

Ibiza on University Place

They aren't announcing that they're GOOB but there's no sign in the window offering details of a new or alternate location. There is an Ibiza Kids very near by on 4th Avenue and I assume they're related but shouldn't there be a sign in the window saying as much? Maybe it's on the door and I didn't see it.

Technically, I think this falls under the Store Closing category, sometimes a precursor to GOOB.

Gitmo for Cheap!

SNL spoofs the closing of Guantanamo Bay with a GOOB version. "Hoods and handcuffs, cheap!"

Fortunoff GOOB

Wedding registry heavy-weight and jeweler, Fortunoff, files for bankruptcy on February 5th. Read the story here.

I guess their SEO firm will want to look into changing this ad that pops up in a Google search of Fortunoff. Maybe the line should read, "No longer in business after 86 years."

Fishs Eddy is not GOOB

Lots of stores across the city are going about of business, but Fishs Eddy is not one of them. They are having a pretty good sale nevertheless.

{Photos via Marianne O'Leary on Flickr}

Electronics on 14th Street - Not for Long

Why pay big bucks for a going-out-of-business sign when spray-paint on an old sheet does such a better job of saying, "We are so desperate we'll pay you to haul cameras and TVs away for us!"