One of the UK's oldest retailers of musical instruments has been bought out of adminstration.
Rick Harrison and Neil Gostelow from KPMG’s Restructuring practice were this month appointed joint administrators to Dawsons Music, which has stores in Manchester, Liverpool, Chester, Leeds, Reading and Belfast.
Established in 1898 in Warrington, the firm employs approximately 75 people, selling musical products including guitars, pianos and keyboards and the latest in music technology.
The company also has an education division which supplies musical instruments and technology to schools, colleges and universities across the UK and internationally.
Now administrators have confirmed they have sold the business and its assets in a deal which sees all of Dawsons’ 75 employees transfer to the new owner.
The business will continue to trade via a new company, Dawsons Music & Sound Ltd., which is owned and operated by Andrew M Oliver of Arranged Musical Options Ltd.
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 to someone well-established within the musical instrument industry, which not only ensures the Dawsons Music business will continue, but also safeguards employment for 75 members of staff.
"We wish the new team every success for the future.”
