Columbia House files for bankruptcy

[Sandman]

Like many others, this is where I built my music collection. I got a lot of stuff for a little money from them, so all was good.

 

Can't believe they were still in business. I hadn't even thought of them in years. Most every kid I knew joined at least once. Beat the heck out of paying mall prices.

 

Amazing how technology has changed the music industry in the last 15 years. I'll probably never buy another actual CD again.

[CincySportsFan]

Wait a minute, they still have a NET revenue of 17 million, and they're filing bankruptcy?

[Jim Schue]

Wait a minute, they still have a NET revenue of 17 million, and they're filing bankruptcy?

 

You gotta figure the place has bunches of storage/distribution facilities across the country that are just sitting empty right now.

[Getslow]

Wait a minute, they still have a NET revenue of 17 million, and they're filing bankruptcy?

 

Chapter 11, which is structured reorganization, as opposed to Chapter 7, full liquidation.

 

They'll auction off whatever they can to pay debts but the parent company will retain control of the company and do whatever it is they plan to do with it once they emerge from bankruptcy. They'll likely wind it down, but it gives them a few more options as they go through the process.

 

While they might be seeing that in revenue, given their sharp decline in recent years, the notion that their debts exceed their ability to pay isn't surprising.

[NEERFAN]

I'd like to thank them for the one cent Richard Marx album.

 

[John Anthony]

Still remember my Nirvana CD arriving.

[Jumper_Dad]

I remember getting Dr Hook, Foreigner, Styx, Reo, Eagles, Beethoven and a few more for 1 cent...then bought the required 3 or 4 asap to end the contract when I was about 15 or 16.

[BlueTip]

Now I've got Sharing the Night Together going through my head.

 

Thanks for that.

[OlDog75]

Now I've got Sharing the Night Together going through my head.

 

Thanks for that.

 

:laugh:

[Lawnboy13]

Now I've got Sharing the Night Together going through my head.

 

Thanks for that.

 

How about this then......:lol2:

 

[BlueTip]

Salt in the wound

[tark the shark]

I worked the system for about 4 years. The key was to cancel after the 3rd CD via phone. Their number was hard to find, it was out of Indianapolis. If you tried by mail, it became very difficult. Early Lenny Kravitz was in the first batch.

[kyyank]

Picked up Zenyatta Mendatta, 2 Jackson Browne albums, ZZ Tops El Loco, Eagles Greatest Hits and a Springsteen album, can't remember which one. Don't think I ever bought another.