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The planned closures of the Virgin Megastores in Times Square and Union Square in New York City and the Market Street store in San Francisco are the beginning of the final wind-down of Virgin Entertainment Group North America.
Over the next few months, the company also plans to shutter its other three stores in Orlando, Fla., Denver and Los Angeles, with the company expected to liquidate sometime this summer.
Virgin Entertainment Group North America has been a question mark since August 2007, when it was acquired by two real estate companies: the Related Cos.
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