Mars Music Files for Bankruptcy
September 28, 2002According to a recent report by the Miami Herald, the Mars Music (www.marsmusic.com) superstore chain filed for Chapter 11 bankruptcy protection on Friday.
After a successful stint as the president of Office Depot, Mark Begelman stepped down and decided to combine his love of music with a new business venture, creating Mars Music. Beginning with the acquisition of a small chain of Florida-based music stores in 1996, Mars pursued a very aggressive expansion plan, building dozens of superstores through the South and some far reaches of the US, complemented by an e-commerce web site. At it's peak, Mars Music consisted of 50 stores, but had already reduced its size down to 41 stores by the time of the Chapter 11 filing. |
