Dawsons Music is saved from closure, Getintothis’ Peter Guy reports on the sale new owners.
Dawsons Music has been bought by Manchester music entrepreneur Andrew M Oliver and wife Karen Oliver.
The deal saves six stores from closure and around 75 jobs across the UK.
Established in 1898 in Warrington, the firm employs around 75 people, selling musical products including guitars, pianos, keyboards and music technology.
On securing the deal to save Dawsons, Andrew said: “I’m excited to be taking on such a well-established brand with a strong heritage and huge potential.
“It would have been a huge loss for a business that is so well known and loved to close its doors for good.
“My wife and I are relishing the opportunity to lead such a strong team at Dawsons. Both businesses completely complement each other.”
Stores in Manchester, Liverpool, Leeds, Reading, Belfast and Pepper Street, Chester, have been closed since lockdown due to coronavirus restrictions.
But Dawsons has continued to trade strongly online.
Joint administrators of Dawsons Music, Neil Gostelow and Rick Harrison from KPMG’s Restructuring practice, confirm they have sold the business and its assets to the new owners.
The business will continue to trade via a new company, Dawsons Music & Sound Ltd, owned and operated by Andrew and Karen’s existing company Arranged Musical Options Ltd.
The company sells a diverse range of musical products, including acoustic, bass and electric guitars; amps and effects; pianos and keyboards; drums and percussion; PA & DJ equipment; orchestra instruments; sheet music books and the latest in music technology.
Paul Tyrer and Steven Percy, partners in the corporate and real estate teams at Cheshire based SAS Daniels Solicitors, advised Mr Oliver on the deal.
Paul said: “I am delighted that we were able to rescue this historic brand and preserve so many jobs.”
Rick Harrison, partner at KPMG and joint administrator, said: “Since the outset of our appointment, we have been struck by the affection that so many people hold for this iconic retailer.
“We are therefore delighted to have been able to conclude this sale, which not only ensures the Dawsons business will continue, but also safeguards employment for 75 members of staff. We wish the new team every success for the future.”