Monday, March 1, 2021

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Clicks To Shut Down Musica After 29 Years

Musica, a local entertainment chain that dominated the music, movie and gaming physical market, has announced that it will be shutting operations this year after 29 years of operation.

Clicks Group, the corporation who owns the Musica brand, says that the decision comes due to the shift to digital consumption of music, movies and games, exacerbated by the Covid-19 pandemic.

“Musica has been operating in a declining market … owing to the structural shift globally to the digital consumption of music, movies and games from the traditional physical format,” Clicks said in a statement. “The inevitable demise of the brand has been accelerated by the COVID-19 pandemic which resulted in the rapid decline in foot traffic in destination malls where Musica stores are typically located.”

The chain says it had closed 19 stores since the start of the brand’s 2021 financial year which began in September 2020 with 59 stores still in operation. The remaining stores will shut down over the next four months as leases expire.

In the stores which have been closed, Clicks says that Musica staff have been absorbed into the group’s health and beauty store network. “Management is committed to accommodating the remaining staff within the group where this is operationally feasible,” the brand explains. “Further detail on the financial and operational impact of Musica’s closure will be communicated to shareholders with the release of the group’s interim results in April 2021.”

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