At independent record store Empire Records in Delaware, employee Lucas has been tasked by store manager Joe with closing the store for the first time. While counting the day’s receipts in Joe’s office, he discovers the store is about to be sold and converted into a branch of Music Town, a large national chain.
Determined to keep the store independent, Lucas hatches a plan, taking the day’s cash receipts of approximately $9,000 to a casino in Atlantic City to quadruple it playing craps. Though successfully doubling the money on his first roll, he loses everything on the second.
The following morning, fellow Empire employees A.J. and Mark find Lucas, who confides in them about the previous night’s events, just before riding off on his motorcycle. Joe arrives and quickly receives frantic phone calls about the missing deposit from both the bank and the store’s owner, Mitchell Beck.
Other employees arrive, including overachieving high school student Corey and her uninhibited best friend Gina. Hostile employee Deb, who has survived an apparent suicide attempt, also arrives. Deb then goes into the bathroom and shaves her head. Upon Lucas’ arrival, Joe confronts him about the missing deposit and Lucas confirms the money was lost. Joe explains his anti-Music Town plan to the employees – he had saved enough money to become part-owner of the store to save it, but will now be $9,000 short as he must cover the missing money with Mitchell.
Joe is distracted from the crisis due to a major store event: Rex Manning Day. The washed-up 1980s pop idol is holding an autograph session at the store for fans of his latest album Back with More. The unenthused staff mock both Manning and the event, and ultimately many of the fans showing up to meet him are either older women or gay men.
The staff try to replace the missing money but can raise only $3,000. Suddenly inspired, Mark runs in front of the news crew covering Warren’s holdup, announcing on live TV a late-night benefit party at the store to “Save the Empire”. An impromptu concert on the roof by Gina and Berko, another employee, raises funds so Joe can hand the money raised to Mitchell for the lost amount. Mitchell then offers to sell the store “cheap” to Joe, not wanting to deal with Empire Records anymore.
Corey finally finds A.J. on the roof fixing the Empire Records sign and confesses that she loves him, too. He decides to attend art school in Boston to be near her while she attends Harvard. They kiss, and the staff ends the long day with a dance party on the roof.
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