Record Store Day co-founder may have to close record store

Record Store Day co-founder Eric Levin has been put in the unfortunate position of possibly having to close his own store, the Atlanta-based Criminal Records. Ironically, the stores growth led to the problems as a recent move to a 6000 square foot space after previously occupying 2500 square feet increased costs and that, coupled with the recession and music downloads – both legal and illegal – led to heavy debt for the store.Levin said:

I gave myself until the 20th anniversary and if I was still drowning by August 2011, I’d pull the plug. And going further into debt [wasn’t going to work] as the debt load is the problem that got me to this point. We’ve been underwater ever since the economy became distressed. We’ve been on a rescue mission for three years. I’m done paying for it by myself.

More on the story can be found via the AJC.

Criminal’s growth was also its downfall, Levin said. A move to a 6,000-square-foot space from a 2,500 one tripled expenses. Hosting live music two or three times a week for free became costly. The recession, legal and illegal music downloading and what Levin called a “miserable” holiday season in retail sales only dug the hole deeper. The four-day freeze after January’s ice storm cost the store $14,000, he said.