The iconic New York City electronics superstore J&R is closing.

In a statement on the store’s website, the founders said, “On April 10th,” the statement read, “J&R will close its doors so that we can rebuild this location into what we hope will be an unprecedented retailing concept and social mecca. In order to facilitate this exciting new initiative, the buildings that J&R occupies will be totally reimagined and redeveloped.”

The statement also includes a rendering of what the location may look like in 2015.

Customers will still be able to place orders online.

Large electronics stores have been plagued by a series of challenges including the trend of customers who look at products in stores and then purchase them at lower prices online.

J&R has been across from City Hall since 1971, when it started as a basement record shop.

(YWN Desk – NYC)