JHS Announces Closing its Doors
Music Instrument has received news that longstanding UK Distributor John Hornby Skewes & Co. Ltd (JHS) is closing its doors.
A statement from Dennis Drum reads:
After sixty plus years in the business, UK distributor John Hornby Skewes & Co. Ltd., (JHS) is closing its doors.
The JHS business comprises of a property company and a trading company, both majority owned by family trusts set up by the late John H. Skewes the settlor of those trusts who stated that after his death, the Companies should be sold.
Steps have been taken over the last few months to try and secure a buyer to take John Hornby Skewes & Co. Ltd., forward under new proprietorship. This has thus far not been possible.
Therefore, the trustees, shareholders, and board of John Hornby Skewes & Co. Ltd., have concluded that to achieve the settlor’s mandate a process of conducting an orderly winding down of John Hornby Skewes & Co. Ltd., will commence with immediate effect.
What does this mean in practice?
This is not a liquidation or administration process forced upon us because of insolvency.
JHS is entirely solvent.
Over the coming months, and we anticipate the process could take as much as twelve months, the Company will continue to trade, downsizing along the way, gradually disposing of its stock and assets, including its valuable trademarks and other intellectual property, which include;
All of which will be offered for sale to the highest bidder.
At a yet to be determined point in time, the Company will close having discharged all its statutory and other liabilities to staff, creditors, and other stakeholders, and that, very sadly, will be the end of JHS after more than sixty years.
After which, the premises which has been our home since 1990 will be marketed and disposed of, and we will leave our Yorkshire UK home of Garforth, bringing matters to a conclusion.
The trustees, shareholders, and directors of JHS would like to pay tribute to those who have engaged with us over the decades, in whatever capacity or manner of contribution.
Please direct any initial enquiries or questions concerning the process and opportunities directly to me.
Thank You Dennis J.Drumm
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Source: musicinstrumentnews.co.uk
