Peaches Records & Tapes w/Peach Magnet

Peaches Records & Tapes, Inc., was a Los Angeles-based national retail chain of record superstores, some as large as 15,000 square feet. The chain became a subsidiary of the Nehi Record Distributing Corporation. Tom Heiman (né Thomas Michael Heiman; born 1941) founded Peaches in 1963 and went on to become president of Nehi. At its peak, Peaches had 50 stores in 22 cities with over 2,000 employees. In June 1981, Peaches filed a petition for bankruptcy under Chapter 11 citing $20 million in debt (equivalent to $161 in 2022) for its 35 stores coast to coast, owed to Citibank and six different record distributors.