The company, which said it won't abandon its e-commerce business and doesn't plan any layoffs, will develop its Internet infrastructure, hoping to reintroduce the service at a later date, Webnoize reports.
Sources suggest CD Warehouse has been slow to implement its Internet strategy as rivals have begun to develop partnerships with online retailers and acquire content properties to merge physical and virtual stores.
Trans World, for example, recently took an equity stake in online retailer SecondSpin.com, Wherehouse Music merged its online operation with CheckOut.com and Musicland acquired a stake in Supersoni.com last year, all in an attempt to get a foothold in the burgeoning online market.
LIVE NATION POSTS (ANOTHER) RECORD QUARTER
More butts in seats than ever before. (5/3a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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