Two Virgin Megastores to close

New York, San Francisco affected

NEW YORK -- The six-unit Virgin Megastore chain will close two more stores, the Union Square location in New York City at the end of May and the Market Street store in San Francisco at the end of April, sources say. The company previously announced that its Times Square store will close in April.

In August 2007, the Virgin Entertainment Group North America was acquired by two real estate companies -- the Related Cos. and Vornado. Since then, the chain has been reduced from 11 units -- with the industry awaiting word of the fate of the three remaining stores in Denver, Los Angeles, and Orlando.