Turnkey and Sound Control (UK) go into administration

[Timo]

Turnkey being the UK's biggest music-tech chain, formerly UK distributor for Access Music (the role of which Digital Village now have).

Sound Control bought Turnkey out a few years ago, along with Soho Sound House, and Media Tools. Now they've all gone under.

http://www.dolphinmusic.co.uk/page/s...news_id/e/2112
http://www.dv247.com/news/Turnkey%20...tration/131759

160+ people have lost their jobs. =/

"Sound Control Group appoints adminstrators

Apr 30 2008
John Reid and Bill Dawson of Deloitte, the business advisory firm, have been appointed Administrators of Sound Control Holdings Limited (“Holdings”) and certain of its subsidiaries (“the Group”) following applications to the courts by the Group’s Directors.

The Group operates from 26 stores across the UK, under the brand names Sound Control, Media Tools, Turnkey and Soho Sound House, and is the largest musical instrument retailer in the UK. It has a turnover of £50m and 338 employees nationwide.

The Group has been impacted by increased competition from the internet and the directors had been pursuing a strategy to sell the business. This did not prove successful and accordingly they sought the appointment of John Reid and Bill Dawson as Administrators.

John Reid said: “Following a review of the Group’s operations the Administrators have today 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, selling high quality musical instruments to the public.”

The Group's head office is based in Dunfermline and has various trading locations throughout the UK." "

Guess we now know why the TIs were so cheap there earlier this year (my prediction at that time was an impending TI mk2 release, as they were previously UK's distributor for Access), as they were shifting back stock and refurbs and had no new ones on order.