Hi Everyone,

This week we have some big CIMS news to share with the group.

Our previous Executive Director Michael Bunnell, and his wife Jil Sevy, owners of the Record Exchange in Boise Idaho turned over their keys to the store yesterday.

After founding The Record Exchange in 1977 and growing their business into a Downtown Boise institution for over 44 years, Michael and Jil are retiring to enjoy travel and other pursuits.

Michael was one of the founding CIMS members and served as our CIMS board chair for many years before serving as our Executive Director from 2009- 2019. During this time, Michael and I worked together through some crazy changes in this industry (those just keep coming don’t they…), and through the years, I also have many fond memories of lots of good times spent and great talks with Michael, Jil and their boys Ian and Eric who I watched grow up. I consider them not only colleagues, but also friends and extended family, so I could not be happier for them.

But don’t you worry, the Record Exchange isn’t going anywhere because there is more exciting news! Michael and Jil have sold the business and are turning over the reins to long-time Record Exchange employees Catherine Merrick, Glenn Newkirk and Chad Dryden, and Dryden’s wife Erica Sparlin Dryden. This group has a combined 43 years of experience (almost as many years as the store itself) and I am so happy that the legacy of this store will continue. I know the future of The Record Exchange is in good hands and they will remain a proud member of CIMS.

As one journey ends, a new one always begins. I am wishing this group the best for the new journeys ahead and looking forward to being along for the ride.

I am including the full announcement from Michael and The Record Exchange Below:

Greetings industry friends,

I am excited to announce that after 44 years of running The Record Exchange, Jil and I are retiring and selling the store to our longtime employees Catherine Merrick, Glenn Newkirk and Chad Dryden, and Chad's wife Erica Sparlin Dryden. Tuesday was our final day as owners. Read the full announcement below.

It was a privilege to work with both CIMS and Record Store Day from the ground up and to see the two organizations now recognized as leaders in the industry. All of these store owners, managers, CIMS and RSD staff, and member stores are the real deal – people who have dedicated their lives to an art form they believe in and genuinely love. They've weathered every kind of storm imaginable and still stay committed to independent music retail and to their communities. They're heroes and deserve support and recognition from the industry to which they've dedicated their lives.

Thank you for supporting The Record Exchange all these years and for continuing that support as the store changes hands.

Michael Bunnell
(208) 761-3155
michael@therecordexchange.com

The Record Exchange is changing hands for the first time in the store’s 44-year history, but the new owners will be familiar faces to customers of Idaho’s largest independent record store.

Founder and owners Michael Bunnell and Jil Sevy have sold the business to longtime employees Catherine Merrick, Glenn Newkirk and Chad Dryden, and Dryden’s wife Erica Sparlin Dryden. Merrick, Newkirk and the Drydens will assume ownership on Wednesday, Sept. 8.

After founding The Record Exchange in 1977 and growing the business into a Downtown Boise institution and leader in the national music retail industry, Bunnell and Sevy are retiring to enjoy travel and other pursuits.

“My vision for the store from the beginning was to create a place where people of all ages and musical tastes could discover and share their passion for music,” Bunnell said. “I wanted the store to be an ‘experience,’ and I hope on some level we’ve succeeded in that goal. It was always my hope that when Jil and I were ready to retire, the store would continue in the hands of employees who care about the culture we’ve created. I couldn’t be happier about the employees who have stepped up to take the helm and guide the store into the future.”

With an initial inventory consisting largely of his vinyl record collection, Bunnell and then-partner Al Benton opened The Record Exchange in a modest Orchard Street storefront on the Boise Bench. A year later, in 1978, they moved the business to the Hitchcock Building at the corner of Idaho and 11th streets to fulfill Bunnell’s vision of a full-service record store in Boise inspired by the shop of his youth, the original Tower Records in Sacramento. In 1981, Bunnell bought out Benton and later partnered with Kathleen O’Brien, who ran a poster shop next door, and the two businesses combined under The Record Exchange name until 1992, when Bunnell and Sevy bought O’Brien out of the business. The downtown location was expanded many times over the years, and in 1996, Bunnell and Sevy purchased the building, which they will continue to own in retirement. While it is well-known for its deep music inventory, the store diversified to include gifts, apparel and Downtown Boise’s first espresso bar. Sevy, Bunnell’s wife and partner, officially joined the staff in 2001 as the gift shop buyer and manager and was instrumental in growing the store’s non-music offerings.

The Record Exchange has spent nearly 45 years making itself a vibrant part of the Boise music scene. By featuring local and touring musicians on its built-in, professional-level stage, the store established itself as one of the leading music venues in the state. Record Exchange in-store alumni include Smashing Pumpkins, Ed Sheeran, Built to Spill, Josh Ritter, Ben Harper, They Might Be Giants, Brandi Carlile and Luke Combs.

“We are very grateful to the Boise community for its support over the years, in particular the local musicians who have played our stage and contributed their talents to countless store events,” Sevy said. “We thank the wonderful employees we’ve worked with over the decades, including our two sons Ian and Eric, who have all been a vital part of The Record Exchange family.”
In addition to running The Record Exchange, Bunnell was a founding member of the Coalition of Independent Music Stores (CIMS) and served on the CIMS board of directors for 13 years until he was named executive director in 2008, a position he held until 2019 when he retired to focus solely on the store. In addition, Bunnell also served on the Record Store Day board of directors for 11 years.

Under the leadership of Bunnell and Sevy, the store has earned accolades from grammy.com and several national publications, most recently No Depression magazine, which named The Record Exchange one of the top 75 record stores in the country. Locally, The Record Exchange won both the Idaho Statesman and Boise Weekly’s Best Record Store reader’s poll awards for so many consecutive years that the category was retired.

The new ownership group, with a combined 43 years of experience at the store, is eager and excited to take the reins and lead The Record Exchange to even greater heights.

“As a youth, I spent many hours in this building – it was a safe space for me, particularly as a female music enthusiast who didn’t fit in elsewhere,” Merrick said. “The Record Exchange has always encouraged women to be a part of this industry, so to be able to be part of the RX team, as a young customer to long-time employee-turned-owner, is really validating. I’m excited to carry forward, and build on, the tradition of making RX inclusive and to continue supporting and fostering the diverse artists and creatives in our community.”
Said Newkirk: “The Record Exchange had been my home-away-from-home for 30 years. I’m honored to be a member of the RX family and feel very fortunate to have the opportunity to be part of the continuing story.”

Here are the charts for the week,
Andrea

Andrea Paschal
Executive Director
Coalition of Independent Music Stores
ThinkIndie Distribution
3738 4th Terrace North
Birmingham, AL 35222
Phone: 205.595.1932 x.208
Fax: 205.595.1938
Email : andrea@cimsmusic.com
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