Dawsons the music retailer has gone into administration, Getintothis’ Peter Guy reports.
Dawsons Music, one of the UK’s oldest retailers of musical instruments, has fallen into administration.
Established in 1898 in Warrington, the firm employs around 75 people, selling musical products including guitars, pianos, keyboards and music technology.
Rick Harrison and Neil Gostelow from KPMG’s restructuring practice have been appointed joint administrators to Dawsons Music, which has stores in Manchester, Liverpool, Chester, Leeds, Reading and Belfast.
The company has an education division which supplies musical instruments and technology to schools, colleges and universities across the UK and internationally.
Administrators said that over the last 12 months, the business has experienced “declining sales against the backdrop of a highly challenging retail environment“.
With the impact of the Covid-19 pandemic placing further financial strain on the business, the directors took the decision to appoint joint administrators.
Harrison said: “Dawsons is an iconic name in the music industry with its ‘Run by musicians, for musicians’ philosophy.
“While all stores remain closed due to the restrictions imposed as a result of the Covid-19 pandemic, we will continue to trade the business via its online platforms while we assess options for the business.
“The majority of staff were furloughed prior to our appointment, and we will be speaking to them as a matter of priority over the days and weeks ahead, as we seek a buyer for the business.
“We are presently in advanced discussions with a number of interested parties with a view to a possible sale but would invite any other party who may have interest in acquiring the business and its assets to contact us at the earliest opportunity.”