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Columbia House, the legendary mail order brand, is staging its comeback only a few months after its parent company, Filmed Entertainment, Inc., filed for Chapter 11 bankruptcy, effectively ending the brand's 50-year run of bringing the masses large quantities of albums and later movies for as little as a dollar--or so we thought. Under new ownership, the brand is set to relaunch as a vinyl record delivery service. -
Columbia House Files Bankruptcy as CDs No Longer Profitable
Columbia House, a relic of the era when physical records and movies were king, has filed for bankruptcy after nearly two decades of declining revenue. The mail-order music and video retailer once boasted an annual profit of $1.4 billion at its peak in 1996 but in 2014 only tallied $17 million in revenue. According to the bankruptcy filings obtained by the Wall Street Journal, Filmed Entertainment Inc., the parent company for Columbia House cited the constantly evolving digital and online landscape and eroding physical CD sales.
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