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SAMPLE CASE/CONCEPT APPLICATION FOR SESSION 1, THE CHALLENGES OF BUSINESS Sam the Record Man Goes Broke Sam the Record Man, Canada’s last remaining family-owned record store chain and a strong supporter of Canadian artists, recently filed for bankruptcy and closed 24 stores across the country. The shut down marked the end of a long struggle by the 53-year-old retail dynasty to stay afloat amid mounting pressure from newer rivals and upstart technologies. “We met with the accountants and the lawyers and said we just couldn’t do it anymore,” Sam Sniderman, the company’s 81-year-old founder said. In its heyday, the chain had more than 100 locations and was Canada’s leading specialty music retailer. Few retailers supported Canadian musicians like Sam’s did. The company never refused a Canadian artist shelf space, taking in the home-pressed discs of unsigned musicians and selling them, with few strings attached, for 60 days. “Every one of the stores has a section for Canadian artists,” Mr. Sniderman said proudly. “We
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