A&B Sound is a Canadian-based music and electronics store founded by Fred Steiner in 1959. A&B Sound was best known for the place to buy CD’s and of course, their infamous Boxing Day Sales that had people rushing down after turkey dinners to lineup over night in the cold for a deal.  Every Christmas we would get gift certificates for A&B Sound and hit up their Boxing Day(/week) Sales.   I found the Seymour location in Vancouver as a great place to pickup import CD’s for a relatively low cost that kept me out of the HMV store where they cost more.

A&B Sound filed for protection under the Canadian bankruptcy regulations in early 2005. Sun Capital Partners Group Inc. attempted to purchase the business but the sale was rejected by it’s investors. Paul Girard of Seanix Technology Inc. was instead the successful purchaser of A&B Sound and all of its assets.

Upon gaining control of the company, Girard fired the majority of the A&B Sound management staff stating if they failed in the past, they will fail in the future (can’t find the quote to properly quote it, please send me it if you know where it is!). Low and behold, A&B Sound released this statement yesterday:

Richmond, BC, August 12, 2008 – It is with regret that we announce the immediate closure of both a&b sound Vancouver locations. Both stores were struggling. We determined that we could not turn the situation around and that the right business decision was to focus our efforts on our other locations.

We wish to thank our loyal customers who have supported us during the past years. We also wish to thank all our dedicated Vancouver employees for their contribution.

All Vancouver customers will now be serviced from our North Vancouver flagship location at Capilano Mall by phone 604.986.6200 or via email cap@absound.ca – Source

Their Nanaimo location, the one I used to shop at, was closed July 28, 2008:

A&B Sound announces with regret the closing of the A&B Sound Nanaimo location effective Wednesday July 23, 2008. We would like to thank our loyal and dedicated Nanaimo employees and customers for their support over the years and we look forward to serving you in our Langford location. – Source

A&B Sound has dwindled down to two new stores opening up in BC, two stores still open in BC and one left in Alberta. Was it Girard’s instant firing of A&B Sounds management and his own lack of experience in the industry or was it truly due to intense competition that will see the end of another great Canadian company?

… in a court file related to one of the store’s closing, it states that A&B Sound lost more than $6 million in two and a half years due to intense competition from retail giants like Best Buy and Wal-Mart.

The file said annual sales fell from $270 million in 2003 to $220 million in 2004. – Source

Only time will tell if he can save A&B Sound.