J & R ELECTRONICS INC.

J & R Electronics (dba J&R Music and Computer World) has abandoned its longtime home in Lower Manhattan and taken up residence in cyberspace. The retailer, which ran about 10 specialty electronics shops all within the same New York City block, closed the iconic store in 2014 amid declining music sales and competition from the online retailers, such as Amazon.com. Now J & R sells audio and video products, computers, cameras, software, housewares, office products, music, movies, and games online at its website jr.com. Co-owners Joe and Rachelle Friedman used their wedding money to finance the founding of J & R Electronics in 1971. The couple is looking for partners to redevelop the retail space.

Strategy

Amid the decline in music sales and competition from online retailers, J & R closed its store in Lower Manhattan after 43 years in business lured by cheaper rent in cyberspace. The owners plan to redevelop the Park Row store and reopen for business in 2015.



J & R ELECTRONICS INC.


23 Park Row
New York, NY 10038
Phone: 1 (212) 238-9000
www.jr.com

STATS


  • Employer Type: Private
  • Co-CEO: Rachelle Friedman
  • Co-CEO: Joseph Friedman
  • Co-CEO: Rachelle Friedman

Major Office Locations

  • New York, NY

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