Music retailer Allans Billy Hyde and Gallin’s Musicians Pro Shop in voluntary administration

MEDIA RELEASE

20 June 2018

Allans Billy Hyde Pty Ltd (Allans Billy Hyde) and Gallin’s Musicians Pro Shop Pty Ltd (Gallin’s), one of Australia’s leading music retailers, was placed into Voluntary Administration today.

Ferrier Hodgson partners John Lindholm and George Georges were appointed Voluntary Administrators by the company’s director.
Administrator John Lindholm said it was too early to identify the primary causes of the company’s current financial position, however cited the difficult conditions in the music industry as a contributing factor.

Mr Lindholm said the business was well stocked while the Administrators consider the restructuring and realisation opportunities.

“Allans Billy Hyde and Gallin’s are an iconic Australian music retailer, offering a wide range of musical instruments (including guitars, amplifiers, pianos, keyboards and drums) ”, Mr Lindholm said. “We are immediately calling for expressions of interest for a sale of the business as a going concern.”

Mr Lindholm said that employees will continue to be paid normally by the Administrators.

Allans was established in the 1850’s, Billy Hyde in 1918 and Gallin’s in 1989.

The Group currently has 2 stores in Victoria.

Please refer to the following website for updates throughout the Administration.

http://www.ferrierhodgson.com/

Media enquiries:

Richard Collyer

Newgate Communications Pty Limited

0405 818 801

richard.collyer@newgatecomms.com.au

 

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