Sound Control, the UK´s largest musical instrument retail chain, has gone into administration.
Appointed administrators Deloitte has shut 10 stores and closed down the company's internet and telesales operations. Sixteen stores remain open. With a £50m annual turnover, Sound Control is the UK´s biggest UK-based retailer, employing 336 people. Now, 163 employees will be made redundant.
John Reid from administrators Deloitte said: "Following a review of the group's operations, the administrators have 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."
The branches closed are those in Derby, Glasgow, West Hull, Kirkcaldy, Leeds East, Manchester City, Milton Keynes, Nottingham, Preston and Southampton.
Sound Control is based in Dunfermline, Scotland, and also operates stores under the name Media Tools, Turnkey and Soho SoundHouse.
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By Michael Leonard