Plan 9 files for Chapter 11 Bankruptcy Protection
You may have heard the news by now that Plan 9 has filed for Chapter 11 bankruptcy protection. While it’s something I've struggled to avoid for several years, we could not continue to operate with a lack of cash flow and mounting debt. I've taken this step to give us the opportunity to re-organize, cut costs, relocate if necessary, and set up a new payment plan for our creditors. In that scenario we can improve our selection and better serve you, our customers.
We are fully aware of the many options you have when you choose to buy music, and we are grateful when you do choose us. We've been very fortunate to have had so many loyal customers over the years, many of whom have grown up with Plan 9 over these past thirty years, and many of whom have become our friends. This business of selling music has changed dramatically over these years, and we must adapt- it's just what happens in business, in technology. But we also know and appreciate that a lot of you like to shop locally, and at a place where the sales people come to know you, and know what you like. Maybe you like to flip through the sections just to discover something new, or to find a long-lost favorite. We love all that too. And as long as there are enough of you out there who care to shop for music like we do, we'll give it our best shot to pull out of this and continue to be a part of this incredible musical community.
Thanks for listening, Jim Bland, owner Plan 9 Music
Thanks for listening,
Jim Bland, owner Plan 9 Music