The financial crisis may be bankrupting businesses around the world but there's still one which claims it has been forced to close because real estate prices have risen sharply. The Rock 'n Roll Museum in Harajuku will be no more after January 18th next year. According to spokesman Hiro Kaneko, the entry of large foreign retailers like H&M and Top Shop to the region has increased the value of land around the area and led their landlord to ask for over double the previous rent. He believes that other individual select shop operators in Ura Harajuku will also have to pull up stakes. The company first opened a Beatles memorabilia store called Get Back in 1982. In 1985, they moved to the present location in Harajuku with Love Me Tender, an officially licensed Elvis Presley shop, on the 1st floor and, the following year, a Rolling Stones outlet called Gimme Shelter in the basement. in 2006, some of the operations were relocated to the Parco Quattro building in Shibuya but returned in April of this year as Parco revised their plans. A Led Zeppelin store called Zepp was added at the same time. Since the announcement, all the stores have announced that they will be holding closing down sales from later this month. One issue remains unresolved, however. Outside the building is a bronze statue of Elvis Presley which was unveiled in 1993 with support from the likes of former Prime Minister Koizumi. Mr. Kaneko explained that there are no plans for relocating the statue and says they are currently soliciting offers.
