Dawsons Music saved from administration
Iconic musical instrument Dawsons Music has been saved from administration, after entering it earlier this month.
The 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: Andrew M. Oliver and his wife Karen Oliver. The deal saves Dawsons Musics’ six stores, and all jobs of the retailer’s 75 staff have been saved.
The business will continue to operate via Dawsons Music & Sound Ltd, a new company owned and run by Andrew & Karen’s existing company, Arranged Musical Options Ltd.
Dawsons Music was established in 1898 and is one of the UK’s oldest music retailers. In addition to music equipment retail, the company’s education division supplies music equipment to schools and higher education institutions across the UK and internationally. Although the physical locations across the UK are closed at the moment, the chain continues to operate online.
Paul Tyrer, one of the advisors regarding the deal, said: “I am delighted that we were able to rescue this historic brand and preserve so many jobs. Andrew has more than 21 years’ experience in the musical instrument sector and over 30 years’ experience as a musician. In that time he has developed a close network of contacts across the globe. This is a fantastic opportunity for him to drive Dawsons forward and I am sure that his strong leadership and passion for music will enable the business to flourish.”
Andrew M Oliver himself added of the deal’s success: “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.”
Find out more at dawsons.co.uk. For more industry news, click here.
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