Waterloo Records owner says employees a priority, allowing them to 'buy in'

AUSTIN (KXAN) — Situated at the corner of 6th Street and Lamar stands one of Austin's most iconic music and movie shops, but soon it will be gone.

Following a 2019 property purchase by Endeavor Real Estate Group, the business faced closure or relocation. Now, Waterloo Records will relocate to 1105 N. Lamar Blvd. in the springtime, according to a Thursday release.

"It is a very quintessential Austin place," said Carter Spillyards who has been shopping at Waterloo for the last decade.

Spillyards and others who shop at Waterloo Records said they were sad to see it move, but happy it will still be around.

Caren Kelleher, CEO of Gold Rush Vinyl, confirmed Thursday she and business partner Trey Watson (CEO of Armadillo Records) will be taking over Waterloo Records.

Owner John T. Kunz said bringing on new partners would mean the iconic spot would live on, but it had to be the perfect fit.

"The needle that always needed to be threaded with our business was to stay true to our roots, our beliefs, our principals," said Kunz. "Always follow the music, but continue to change and morph and innovate."

Kunz said the other important part of the deal was his employees, many of them have been working at the shop for decades.

"I've got to stress they were only interested in this company because of the team, the 40 people that make us hum the way we do," Kunz said.

As this transition takes place, Kelleher confirmed Waterloo Records' staff team will be coming along for the ride.

"I started working here the first week this location started," said Martin Coulter, who has more than 30 years with the company.

Kunz said there was another caveat to bringing on new owners.

"One of my other caveats was that the employees would have the opportunity to buy in if they wanted to," Kunz said.

For Guillermo Paleo, who has been working at Waterloo Records for about two years, it has shown him that his company cares about him.

"It just speaks volumes and just confirms to us just how much he really wants us to secure the future, not only for Waterloo but for us as employees," said Paleo.

In a changing city where many iconic spots have disappeared, many shoppers tell KXAN they are happy to see this one just moving down the street.

"Doesn't matter where Waterloo is we will seek it out," said longtime customer Matt Watson.

Kelleher said the opportunity to co-own Waterloo Records is a "lifetime honor," adding she moved to Austin because of its rich music history and scene.

Waterloo Records' upcoming location will feature more space for in-store events and music performances and expanded parking for customers. A grand opening, along with a community celebration, is set to be held on a yet-to-be-announced date, the release added.