Owners Jason and Bobby Sniderman, sons of founder Sam Sniderman, announced last month that the company would close. The brothers cited competition from franchise discount chains as well as MP3 filesharing as reasons for Sam's demise.
The family business began when Sam Sniderman senior began selling discs in his radio store in 1937. He opened an outlet in a furniture store in 1960 and the flagship Yonge Street store in 1961. A franchise chain developed in the late 1960s and went bankrupt in 2001, with most of its merchandise stock being sold off. The Sniderman brothers reorganized the business the following year.
While Sam the Record Man may be no more, that red fa‹ade with the big LP signs above it will remain. The Globe and Mail reports that the Toronto city council gave the fa‹ade landmark status last year, so any new occupants of the building are required to keep it.