The Logansport Mall will soon be minus a tenant, as the Sam Goody store will be closing its doors.

Musicland Holding Corp., an entertainment specialty retailer operating retail stores and online under the names Sam Goody, Suncoast Motion Picture Company, and, announced that it intends to close 341 of its “underperforming and unprofitable stores as part of its Chapter 11 financial review,” according to a press release.

Also on the closing list are stores in Bloomington, Kokomo, Anderson, Columbus, Marion, Mishawaka, Indianapolis, Decatur, Huntington, Bedford and Angola.

“Closing these stores was a difficult, but necessary decision to protect the future of this company. The store closing list is based on a number of factors, including store profits and the terms of the leases at each location,” said Michael J. Madden, Musicland president and CEO.

The stores scheduled to close were turned over to a liquidator on Wednesday, according to Giovanna Falbo, of Sitrick And Company, Musicland Group’s PR firm. Each store will probably close within six to eight weeks, she said.

The Logansport store employs four people, Falbo said.

Local store manager Michelle Lynch declined to discuss the closing, referring all questions to the corporate level.

“I’m afraid I can’t comment on anything,” she said Friday.

“Extremely compelling discounts of up to 40 percent are being offered to the consumer on more than $140 million worth of music, movies, video games and more,” said Michael Keefe, CEO of Hilco Merchant Resources, who is managing the store closings.

The company plans to keep open 400 stores “that have stronger prospects for future growth,” Madden said.

On Jan. 12, Musicland filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

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