After 23 years, CD Game Exchange is no more.

The Portland-based music and video game retailer shut down its last remaining location—the flagship store on Southeast Hawthorne Boulevard—with little warning this week.

"We just had too much payroll, too much debt, costs constantly going up, constantly going down," says Dave Goshien, who co-founded the business with Joe Ring. "Times change, things change—practically everything is streaming."

CD Game Exchange opened in 1996, selling new and vintage video games, movies and music. It boasted five locations as of last year.

The Milwaukie branch closed in January of this year, followed by the Mississippi location in June, the Division location in July and the Gresham location in September. Hawthorne was the last to go.

There is some good news, though: Local musician Morgan Troper has bought the  Hawthorne store, and will be rebranding it as Hawthorne Game Exchange.

"I've been going to that specific store since I was 7, and have been working there on and off for the past couple of years," Troper writes to WW in an email. "The place means a lot to me."

Troper says the new business will focus on retro video games and vinyl. There will be vintage arcade cabinets available for customers to play, and there are hopes the store will be able to host live music occasionally. Los Angeles artist Jennifer Korsen has also contributed a mural to the building:

Hawthorne Game Exchange is slated to open Dec. 1