New York's Lyric Hi-Fi & Video is one of high-end audio's longest-standing and most legendary institutions. In a recent telephone conversation, Leonard Bellezza, Lyric's owner and president, confirmed what many in this industry have long heard rumored: Lyric is closing.
In 1956, Michael Kakadelis, known as Mike Kay, took a job at a hi-fi store. Kay acquired the business three years later and moved it to Lexington Avenue on the Upper East Side, where it stayed until it closed. Kay was a degreed engineer. He fixed and built…