Handleman Sells

Handleman Co., a music distributor that counts Wal-Mart as its biggest customer, is selling its North American business to a Texas company.

The Troy, Mich.-based company said June 2nd that it has agreed to sell its music inventory and other assets to Anderson Merchandisers of Amarillo, Texas, and shave 260 jobs, mostly in Michigan and Indiana.

President/CEO Albert Koch says Handleman is leaving the North American market because CD sales have fallen at double-digit rates for several years, both industrywide and in its customers’ stores.