Steve’s Music Store has been a pillar of the downtown Toronto community for the last 50 years, the company in busines for 60 years since its iconic location opened in 1965 in Montreal. The Toronto store on Queen St. W. opened its doors in the 1970s and became a destination for music lovers and musicians to explore, connect, build community, and share your love of music with others. Sadly, however, that run may be coming to an end, as Steve’s Music Store has confirmed that it is undergoing a formal restructuring.
According to a note to customers and friends posted on the retailer’s website, the “significant disruption across the sector” over the last several years has impacted business. It’s no secret that even the vinyl revival and a renewed interest in concerts and pursuing the arts like music wasn’t enough to sustain a store that sells musical instruments in the age of streaming, computer-generated music, and educational budget cuts for the arts.
“These changes had an immediate and negative impact on our performance,” the company notes. “Despite various efforts to adapt, we continue to face mounting financial pressure, which, after reviewing all our options, ultimately led to the current restructuring proceedings.”
In-store liquidations will be taking place over the coming months, and while Steve’s Music Store has not confirmed that all locations will be closing, it’s a certainty that some of them will be. According Dan Suavé, manager of the Ottawa location who spoke with CBC, all physical storefronts but one in Montreal will be closing their doors.
“Through this process,” says the company, “we are looking to emerge as a leaner and focused company to continue serving you.”
Steve’s Music Store currently has five locations, including the ones in Toronto and Montreal, as well as Ottawa. The retailer primarily sells musical instruments as well as books for learning to play, DJ and lighting equipment, headphones, recording equipment, music-related gifts, and more.
The news is a stark warning to shoppers that putting your money where your mouth is matters, and that the arts are slowly becoming a forgotten aspect of education, community building, and creativity. Supporting the businesses that make these products a reality with your hard-earned dollars is what sustains the things you love, appreciate, and see true value in enjoying.
In a day and age where we click buttons to listen to and make music, it’s easy to forget where real music comes from. Hopefully, as the new generation continues on the latest path of desiring a digital disconnect, and fueling a continued renewed interest in physical media like vinyl, CDs, cassettes, wired headphones, and reduced screen time, a love for pure, instrument-based music will return. And with it, maybe Steve’s Music Store will come back stronger than ever.