Published 1/5/08
The UK's largest retailer closes numerous branches
The UK's largest retailer Sound Control, who also own Turnkey and Media Tools, went into administration yesterday, 30th April.
According to Deloitte, who have been appointed administrators of Sound Control Holdings Limited, 10 of the retailer's 26 stores have been closed, with 163 of the 338 employees made redundant.
The administrators state "the Group [Sound Control] has been impacted by increased competition from the internet and the directors had been pursuing a strategy to sell the business."
John Reid, one of the two appointed admnistrators said "the administrator will continue to trade the remaining 16 stores, selling high quality musical instruments to the public”.
Turnkey's web site states "Whilst the Sound Control Group remains in administration, no orders can be placed. 16 of our 26 retail stores will continue to trade as normal". It also says that telephone sales will be brought to an end.
We'll keep you up to date with any further information. For ongoing discussion of the latest developments, check out the thread on the SOS forum.
The UK's largest retailer Sound Control, who also own Turnkey and Media Tools, went into administration yesterday, 30th April. According to Deloitte, who have been appointed administrators of Sound Control Holdings Limited, 10 of the retailer's 26 stores have been closed, with 163 of the 338 employees made redundant.
The administrators state "the Group [Sound Control] has been impacted by increased competition from the internet and the directors had been pursuing a strategy to sell the business."
John Reid, one of the two appointed admnistrators said "the administrator will continue to trade the remaining 16 stores, selling high quality musical instruments to the public”.
Turnkey's web site states "Whilst the Sound Control Group remains in administration, no orders can be placed. 16 of our 26 retail stores will continue to trade as normal". It also says that telephone sales will be brought to an end.
We'll keep you up to date with any further information. For ongoing discussion of the latest developments, check out the thread on the SOS forum.
