Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The city of York is one of the oldest in England, with cultural artefacts remaining in the city from time immemorial. The city has also arguably been home to the oldest music store in the United Kingdom, which has remained in operation since 1756.
After being in the business for more than 260 years, the store will finally get closed, with 'challenging market conditions' being cited as the reason, reported BBC.
Banks Musicroom is also supposed to be one of the oldest continuously operating music stores in the world, but it will not remain as such when it is finally closed on the 17th of March this year. The shop happens to be one of the seven music rooms in the country that will get closed.
The shop is three stories and sells various musical instruments as well as accessories, with sheet music being another one of the components that they sell.
The closing down of the music store would be a huge blow to the cultural scenario of the city of York and the area of Yorkshire as a whole.
The BBC quoted a fellow music store, RWB, saying that losing Banks Musicroom would be like "going into York and finding Betty's or the Minster is missing."
In a statement issued by the owner of the bank, Musicroom, it was said that they were doing it in order to reinvigorate their online sales and that they were also closing another six branches in the United Kingdom.
The managing director, Tom Venvall, said that although it was quite a difficult decision, they had no other option.
He added that the decision was also largely taken due to the reality of changing market conditions, where sales and profitability have been challenged.
The rising costs of continuing the business have also been cited as a principal reason behind the closure of the business. Although the music shop also keeps in mind the fact that many employees will lose their jobs in the process and hopes to support them as well as other customers,
The music shop's closing will certainly have a huge impact on the perpetuation of the vintage music industry in the UK, as many pundits and fellow music stores are already mourning the decision.