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Rackedwire: Times Square's Virgin Megastore Gets Axed This April; Inauguration Discounts in Fort Greene

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[Image via Idolator]

TIMES SQUARE—We knew the iconic Virgin Megastore was on its way out, but now we've got a date for the goodbye party. The store closes this coming April; not long after, a Forever 21 will open in its space. Some fun facts: Virgin has the highest volume of music sales in the US, and that location was "profitable to the tune of $6 million," but it was only paying $54/square foot in rent (as opposed to the $700/square foot that's market rate for the neighborhood.) Worrying about the Union Square outpost, Idolator speculates about how long we have "before Other Music becomes the retail powerhouse of New York City by default." [Billboard, Idolator]

FORT GREENE—Dekalb Avenue celebrates a different kind of change with a weekend of deals and specials in honor of Obama's inauguration. Most of the participating businesses are restaurants or bars, but Thistle & Clover is offering 10% off anything that's not already on sale, and Special Gift Occasions will give you 44% off your second purchase of a custom-made hat. (Seriously, when else are you going to have someone make you a hat in honor of the president?) The deals run from this Friday, January 16, through Tuesday, January 20. [Racked Inbox]