February 25, 2026 I Closure
Steve’s Music Store Announces Closures, Liquidation Sales
By Kimberly Kapela
Photo courtesy of the Toronto Star.
Steve’s Music Store, the Canadian music retail chain, has announced it will be closing several of its stores, including its location in Toronto, in the coming months. The company confirmed that only the original Montreal location will remain open. The announcement comes with a major liquidation sale, with discounts of up to 50% at all affected stores.
Founded in Montreal in 1965 by Steve Kirman, Steve’s Music Store expanded to Ottawa and Toronto in the 1970s. It’s Queen Street West in Toronto location opened in 1977 and became a staple in Toronto’s downtown entertainment district. Inside, the store has long offered a sweeping inventory: electric and acoustic guitars, basses, drums and percussion, keyboards, amplifiers, pro-audio gear and more.
But like many brick-and-mortar retailers, the chain has faced increasing financial strain in recent years. In a statement posted to its website, management described the decision to restructure as “difficult” and made with a “heavy heart.”
“Over the past several years, we have operated in an environment marked by significant disruption across the sector,” the statement read. “These changes had an immediate and negative impact on our performance. 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.”
Employees have confirmed that five stores will close over the coming months. Management stated that the restructuring is intended to help the company remain financially strong while shifting more toward online sales.
Steve’s Music Store has long been a space for musicians in Toronto, serving beginners and professionals alike. The Queen Street West store, in particular, has been a cultural landmark for local and visiting artists for nearly 50 years.
This news comes almost a year after Cosmo Music, one of Canada’s largest music stores at one point, announced its closure after 57 years of business. MI
