J&R, the electronics store, released a statement Wednesday saying it was closing its Lower Manhattan store after 43 years in business.
The business, which opened on Park Row in 1971, said in a statement on its website that it would close its doors as of Thursday.
The company said its current location would be rebuilt into "an unprecedented retailing concept and social mecca," but did not make clear what the timeline was for the redevelopment.
According to J&R's website, the store evolved from a basement record shop into a block-long store.
