After Stax Records was forced into involuntary bankruptcy and closed in 1976, the Stax studio was sold by the Union Planters Bank for $10.00 to Southside Church of God in Christ, located nearby on McLemore Avenue. The church had plans to use the building as a community center and soup kitchen, which never materialized.
In 1976, after Stax Records went bankrupt involuntarily and closed down, Union Planters Bank bought the Stax studio for $10.00 and sold it to Southside Church of God in Christ, located on McLemore Avenue nearby. The church had plans to use the building as a community center and soup kitchen but did not carry out these plans.