Many of the audio chains went bust due to the owners putting most of the profits up their noses. Some even died as a result, but not too many. The larger chains (Silo, Newmark & Lewis, etc.) closed up shop due mostly to over expansion and under-capitalization.

I always found it amazing that a chain like Newmark & Lewis could ever have gone bankrupt, knowing the manner in which they routinely robbed their suppliers blind, and made all of their suppliers pay outrageous sums for their annual "Show" (something many other chains did too), as well as routine ad campaigns so that in the end, Newmark & Lewis not only spent all but none of their own money for their self-promotions, but acutally made money in the process!

But, when it came to audio-only retailers, it was drugs that did most of them in, unfortunately. One of my reps in Indianapolis was a former Marine who had three tours of duty in Vietnam. He told me he saw a lot of drugs in Vietnam, but never as many as he did in the audio industry. Too bad..