Times Square Virgin Megastore to close

The Times Square Virgin Megastore in New York City will close its doors this April, according to reports. It’s the highest volume music store in the U.S. The store has been rumored to close since the Virgin Entertainment Group North America was acquired by two real estate companies in August 2007. While the store is estimated to profit $6 million per year, some sources are saying that the space would be more profitable for its owner if a higher rent tenant would replace the Virgin Megastore.