Music Retailer Sam Ash Files for Bankruptcy to Liquidate Chain

Sam Ash Music Corp, a specialty chain of 42 stores that cater to musicians, filed for bankruptcy with plans to liquidate itself if it can’t find a buyer willing to rescue the New York-based retailer.

  • Company listed more than $100 million in debt in a Chapter 11 petition filed in US Bankruptcy Court in Newark, New Jersey
  • Retail lender Tiger Finance has agreed to buy the 100-year-old firm’s stores and inventory, unless a higher offer comes in
  • Sam Ash blamed its failure on the pandemic, when more customers switched to online shopping
  • Store-closing sales have already started at the …