NRM has been on hold with all of the Big Five for the last two months at least, and on hold with other vendors for longer than that. NRM’s pre-petition debt load is $55 million, including banks, vendors and stray debt.
"We will do whatever maximizes the results for our creditors," says Teitelbaum. "No one here is happy about this. And although no one is lining up to give us new credit, we do believe that we can avoid liquidation."
NRM is one of the oldest retail music chains in the country, having opened its doors almost 70 years ago. Teitelbaum bought the company in 1986.
OH, TANNENBAUM! ANOTHER GREAT CAREER HITS THE SKIDS
Another talented journalist trapped in the career cul de sac (5/17a)
THE COUNT: LIVE NATION TAPS TYLER, POST, BLINK FOR TOP U.S. FESTS
Cornering the market on surefire headliners (5/17a)
STAPLETON, WILSON BIG WINNERS AT THE ACMs
A genre mash-up at the home of the Cowboys (5/17a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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