After more than 30 years as a mainstay on Franklin Street, Schoolkids Records will close its doors on March 18, 2008. In a town where music seems to thrive and audiences of all different kinds of music abound, one would wonder why such a unique music store would be forced to shut its doors.
Part-time employee, Freddy (choosing not to give me his last name), said, “I don’t think it has anything to do with Franklin Street. It’s the record business. It’s different than it used to be.”
Freddy said that Schoolkids serves the general college student and now to survive you need to fill niches.
On March 11, 2007, Schoolkids was forced to close its annex and downsize to its original size and location which currently stands. Now it will be forced to close completely because it has become unprofitable to remain open.
The next couple of weeks, patrons of Schoolkids will see reduced prices of all the CDs and records in an attempt to clear the shelves. What merchandise does not go will be sent to the Schoolkids location in Raleigh.
As reported by Daily Tar Heel reporter Jordan Lawrence in his article “A fond farewell to Schoolkids,” local artists will have to use CD Alley to get their music out in the future. It’s a sad loss.
So, as I walk Franklin Street these days I am seeing more and more businesses close. Brueggers Bagels and Yeats Pub shut their doors just last week. A couple businesses seem to close down each month. Each week, it seems that my classmates are asking me if I’m covering the closing of a different business.
This week I discovered one piece of information that may help to answer some of our questions. The typical rent on Franklin Street is $23.00- $30.00 per square foot according to Riddle Commercial Properties. That means some businesses are paying way over $3,000.00 per month, making it difficult for any business to stick around. This is something I plan to look into in the coming weeks.
Next week look for an interview with the director of the Downtown Chapel Hill Partnership and her thoughts on the recent closings on Franklin Street.
1 response so far ↓
trianglerestauranttalk // February 29, 2008 at 5:22 am
I think it’s sad that Schoolkids Records got closed down, but I also think that’s the reality of a lot of small record stores because the music industry has become such a different game–so many people download music online now because it’s easier. Also, bigger record stores like FYE carry so much more that it’s more convenient to shop there instead–you can also buy movies, iPod accessories, posters, etc.