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Sound Control + Turnkey go into administration...

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Re: Sound Control + Turnkey go into administration...

Postby Seaforth » Wed Apr 30, 2008 8:39 pm

Regarding Dophin - well, why shouldn't they be opportunistic? It isn't going to do the newly unemployed any good if they say nothing about it for a respectful period. It's a business opportunity, they're a business.

I've bought from them quite a few times and they've always been very good. I hope that they don't try to take too much on and go downhill but that said- good luck to them.

I'm interested to know what the poster above found so poor about their website - I've never had a problem with it, including finding specific gauges of guitar string for a matter of pence, right up to the stuff costing hundreds or thousands. Never had anything coming in as in stock when it wasn't etc etc.

Only visited Turnkey once - a thoroughly miserable and depressing experience.

Just thought I'd get my oar in.

Over and out.
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Re: Sound Control + Turnkey go into administration...

Postby Parker Fly » Wed Apr 30, 2008 8:40 pm

Tomadvent wrote:(do any of us have any real idea how the different operations are linked to each other?)

A tenner spent at Companies House will go some way to making things clearer.
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Re: Sound Control + Turnkey go into administration...

Postby oggyb » Wed Apr 30, 2008 8:41 pm

Monobass wrote:
nathanscribe wrote:whoops, Monobass just mentioned this while i was typing. Still, I agree - although i have to say there was one extremely helpful guy at SC leeds who was never less than brilliant. Sorry to see them go. There's nowhere else convenient for me to try stuff out before I buy it.

Yeah I guess I should have pointed out i'm only talking about Turnkey in London.

Are we certain the Leeds branches are closing? That will be a shame, if so.

There was one guy at kirkstall who commented on my skill with the roland V-Synth GT tone pad when we were last round there. I blushed. :blush:
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Re: Sound Control + Turnkey go into administration...

Postby Monobass » Wed Apr 30, 2008 8:44 pm

Seaforth wrote:I'm interested to know what the poster above found so poor about their website - I've never had a problem with it, including finding specific gauges of guitar string for a matter of pence, right up to the stuff costing hundreds or thousands. Never had anything coming in as in stock when it wasn't etc etc.

Certain items just don't turn up in searches even when you enter very specific terms (on products which you can still access via browsing).

Mention it to Dolphin on the phone and they are very frank about the problems they have... I get the impression their system just can't handle the amount of products they carry.
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Re: Sound Control + Turnkey go into administration...

Postby Steve Hill » Wed Apr 30, 2008 8:48 pm

Something resembling an official press release from www.creditman.biz...

Sound Control Group appoints adminstrators

Apr 30 2008
John Reid and Bill Dawson of Deloitte, the business advisory firm, have been appointed Administrators of Sound Control Holdings Limited (“Holdings”) and certain of its subsidiaries (“the Group”) following applications to the courts by the Group’s Directors.

The Group operates from 26 stores across the UK, under the brand names Sound Control, Media Tools, Turnkey and Soho Sound House, and is the largest musical instrument retailer in the UK. It has a turnover of £50m and 338 employees nationwide.

The Group has been impacted by increased competition from the internet and the directors had been pursuing a strategy to sell the business. This did not prove successful and accordingly they sought the appointment of John Reid and Bill Dawson as Administrators.

John Reid said: “Following a review of the Group’s operations the Administrators have today made the difficult decision to close 10 of the Group’s trading locations and bring to an end its telesales and internet sales activities. These changes to the Group’s operations have resulted in 163 redundancies with immediate effect.

“The Administrators welcome interest in the business and assets of the Group and are already in discussions with a number of interested parties to explore a possible sale.

“However, at the same time as they explore sale options, the Administrator will continue to trade the remaining 16 stores, selling high quality musical instruments to the public.”

The Group's head office is based in Dunfermline and has various trading locations throughout the UK."


Note the reference to the administrators' decision to terminate internet operations with immediate effect.
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Re: Sound Control + Turnkey go into administration...

Postby Seaforth » Wed Apr 30, 2008 8:51 pm

Monobass wrote:
Seaforth wrote:... I get the impression their system just can't handle the amount of products they carry.

Oh, that's a shame. Perhaps I've just been lucky so far then. Sounds like they're already suffering from a touch of "aagghh - it's all going too fast" - itis then. Let's hope they manage to keep their feet on the ground through all this disruption.
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Re: Sound Control + Turnkey go into administration...

Postby Tomadvent » Wed Apr 30, 2008 8:53 pm

My keyboard playing accountant tells me that it wouldn't "necessarily" because with the same basic directors, and uncertainty what security has been offered to fund the huge Bank of Scotland loan - even apparently solvent sub=companies could be taken down.

So in a recent group of local building companies it was companies a and b which went into administration - and subsequently clear that the premises owned by company c had been used as bank security by the shared directors so company c went as well.

As it is according to the Company information it is the Holdings company (ie the group company) which has gone into liquidation.

In terms of purchases unless you are in the shop and get the product then I would be cautious about placing an order on line.
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Re: Sound Control + Turnkey go into administration...

Postby philetaylor » Wed Apr 30, 2008 9:11 pm

As I have a companies house direct account I just had a look and their latest filed accounts are only up to April 2006 and show a 2M loss for that year and 1.1M the year before.

As of then, the group comprised of:

Sound Control Modern Music Stores Limited
Media Tools Holding Limited
Greenwood Leisure Limited (formerlly Academy of Sound and Carlsbro Sound Centres (Derby/Leicester) Ltd.

As their accounts are overdue there isn't much newer information, one interesting thing is that 3 directors resigned on 09/02/08, Raymond Miller and Alan Gavin who both held 45000 shares. Also Grahame Burgess who was their chartered management accountant and holder of 22143 shares resigned.

Cheers

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Re: Sound Control + Turnkey go into administration...

Postby Guest » Wed Apr 30, 2008 9:17 pm

A bit sad but I had mixed experiences with them. One time they advertised a piece of software, took money from me and then failed to inform me it was discontinued.

Another time (I reported on this board) they told me the Rode NTK was in stock, my brother went to collect it, when he arrived they told him it was discontinued (incorrectly as it turns out).

Another recent experience - phoned up about the Line 6 Gearbox Silver, they said it was in stock, I asked them to double check (knowing what they're like) and lo and behold it wasn't. Phoned up Digital Village and it was in my hands the next day.

On the other hand some staff have gone out of their way to be really helpful and given some great advice.

The last time I went in there was to get a Rode NT2000 - I noticed the back area where all the synths and monitors were was all ripped out and I thought it was to refurbish the place.

I'd say overall due to their bad service they've probably lost about £500 of my business over the years - not a massively efficient operation in my experience.
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Re: Sound Control + Turnkey go into administration...

Postby desmond » Wed Apr 30, 2008 9:30 pm

It's a shame - every time I went into Sound Control in London the people I dealt with were helpful, intelligent, fairly clued up, and nice chaps.

As for Turnkey, they never lived up to the service they gave when they were Soho Soundhouse in Soho Square (they were excellent back then) and I always found going into Turnkey a rather depressing experience...

But it's bad news for the industry as a whole.
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Re: Sound Control + Turnkey go into administration...

Postby Brian Moynihan » Wed Apr 30, 2008 9:35 pm

Its a shame I know a few guys who work there. I'm not surprised though, you can only go so long selling nothing but Behringer and Roland before people stop shopping there.
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Re: Sound Control + Turnkey go into administration...

Postby hogberto » Wed Apr 30, 2008 9:40 pm

the last time i tried ordering something online it turned out of course that the item wasn't in stock. this was a few months ago.

the guy on the phone apologetically explained that the website couldn't display what was in stock but that they were working on a new one which would.

in the meantime i guess the world simply went off to use websites elsewhere...
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Re: Sound Control + Turnkey go into administration...

Postby Tímo » Wed Apr 30, 2008 9:41 pm

Must have a knock-on effect on SOS somewhat, due to the hole created regard advertising revenue? Turnkey were always big (literally) on many-multiple-page-pullouts and stuff. =/
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Re: Sound Control + Turnkey go into administration...

Postby SecretSam » Wed Apr 30, 2008 10:34 pm

Steve

"There's no way a company like Deloitte wants to be accused of defrauding customers in these situations. They've spent 200 years building up a reputation for honesty and trustworthiness, and they only need to trash it once."

I have two words for you:

"Arthur"

and

"Andersen"

:-)
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Re: Sound Control + Turnkey go into administration...

Postby nathanscribe » Wed Apr 30, 2008 10:37 pm

oggyb wrote:Are we certain the Leeds branches are closing? That will be a shame, if so.

I'm over there tomorrow so I can find out. I think the only other place round here is Dolphin's Huddersfield shop, but it's a bit far out. Other than that it's what, Sheffield? I hope they can sort this out, retain a core of usefully spread retail outlets and improve their ordering system.

Seems odd they'd remove the online ordering though, I'd have though that would a cheap way of selling.
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