Renowned Long Island Independent record store, Looney Tunes had a severe fire and lost the entire store last night. The owners of the store are working on plans to rebuild it The fire was apparently due to a faulty extension cord. The 4,000-square-foot, 35-year-old store was "decimated," according to a statement released by Jamie Groeger and Karl Groeger, Jr., the brothers who run the business, which is owned by their father, Karl.

In the mean time, Victory Records has promised 10% of their web-store sales to help support the store in its rebuilding efforts.