Hearne: Kiefs to Close CD Biz, Sell or Lease Shopping Center

Kiefs_Neon_Sign_2_t670The handwriting’s been on the wall for years…

After decades as a pioneer and force to be reckoned with in what’s now referred to as the “music software” biz, Kief’s Music is bowing out.

“I’m getting out of the CD business,” says owner John Kiefer. “I’ve kept the place open for the last two years losing money, but I can’t keep doing this.”

Frankly, who would?

Next up: “We are closing out our CDs and record albums,” Kiefer says. “We’re lowering all the prices and we have a large selection of 99 cents and up CDs and 51 cents and up LPs. We have thousands of both and they’re all used. We started changing the prices last week.”

Mr. K’s game plan:

“We’re not going to actually close it,” Kiefer says. “We’re going to sell down the inventory so we can make the space available for rental. And we’re going to expand the design and installation portion of our business. We’re not closing out the hardware part of the business – speakers, televisions and audio equipment – just the software part.”

biz_t640One wild card…

Depending on how things shake out, if the right offer came along, Kiefer would consider selling the entire shopping center – located on prime real estate – for redevelopment.

“In fact, I’ve got it all drawn up and ready to go,” he says. “We don’t own a dime on it, so I could sell it tomorrow on the contingency that Kiefs Audio Video had six months to close out and do a giant liquidation sale. But if that doesn’t happen – nobody wants to buy it – I’ll be looking for tenants to rent the center and I’d shrink (Kiefs).”

photoAs for the music store’s staff, Kief’s is down to one, iconic music guru Steve Wilson.

“Steve will be here until the end of the month,” Kiefer says. “Steve was my very first employee and that’s important to me. Mark is gone as of now. I’m not going to set a closing date but if the CDs and albums start selling, well, I may be around for six months. Most guys closing out have a sense of urgency, but I have the luxury of taking my time.”

 

 

 

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5 Responses to Hearne: Kiefs to Close CD Biz, Sell or Lease Shopping Center

  1. Libertarian says:

    Address? Hours?

  2. Fresh says:

    “Address? Hours?”

    http://www.google.com

  3. cheech lifting weights says:

    So it was essentially a long real estate play with a passion project attached to it. Explains why it stayed open even after nobody but coke dealers buys a thousand dollar receiver.

    • the dude says:

      Because anyone that knows anything about audio buys separates, coke dealers only buy expensive receivers.

      • cheech lifting weights says:

        coke dealers are stupid so I guess they buy the big speakers and the shitty receiver….

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