PMT - physical shops going downhill?

[Buddster]

7 hours ago, Rich said:

We have a tiny music store in town, from what I can gather it relies on its (extremely good and busy) upstairs music school to survive. And I'm glad it does. All I ever buy from there is picks, as I don't need any budget basses and they don't carry my preferred strings. But it's nice to know it's there. 

I popped in there a couple of weeks ago to get a midi cable. The guy behind the counter didn't know they sold them and has never sold one in ten years working there! It was quite reassuring in a way. 

I do hope it doesn't close, even it's a more traditional sheet music type shop. 

[diskwave]

Fom the very first day they started I thought this ....PMT?  Really?.  Anyone else ever thght the same?  Marketing is a very powerful tool and if it dont look right or sound right it can have an adverse affect.

[Machines]

Just now, diskwave said:

Fom the very first day they started I thought this ....PMT?  Really?.  Anyone else ever thght the same?  Marketing is a very powerful tool and if it dont look right or sound right it can have an adverse affect.

 

I think the coincidentally humorous name was not an issue for musicians.

[Kiwi]

Gear4Music has bought out some stock and IP from PMT but not assets or liabilities.  Any PMT customers with unfulfilled orders seem set to lose their money which seems a little rough.

https://www.gear4music.com/us/en/information/PMT

 

https://musictech.com/news/gear/pmt-closes-all-stores-sells-stock-gear4music/

 

[rwillett]

13 minutes ago, Kiwi said:

Gear4Music has bought out some stock and IP from PMT but not assets or liabilities.  Any PMT customers with unfulfilled orders seem set to lose their money which seems a little rough.

https://www.gear4music.com/us/en/information/PMT

 

https://musictech.com/news/gear/pmt-closes-all-stores-sells-stock-gear4music/

 

 

That's the way it goes in bankruptcy proceedings. I'm not defending it but that's what happens.

 

HMRC tend to be the first creditor and Joe Public is at the bottom of the pile. 

 

Any outstanding purchase orders will be lost and if you haven't paid for it in a credit card, it's likely you've lost some or all of your money. 

 

The suppliers have also lost money which is why they tried to get their stock back when they knew. 

 

A builder in my local village went bust doing my sister in laws house and the local builders merchants who supplied the builder came round tried to shovel up the sand he'd put down and take the bricks he'd started building with back. 

 

Bankruptcies aren't nice, some people use them fraudulently and seem to come out OK, but most are pretty bad. 

 

I lost circa £2K 15 months ago when a plumber just closed up, not a bankruptcy but he said he'd sold the buisiness on to another company but no one could find out who the new business was and he wouldn't say who it was. The work that he started was left and I got another plumber in to finish.

Police said it was a civil mater and wouldn't get involved. Other people lost over £30k. We didn't chase it further as it would cost more than £2k for us to do it. 

 

Rob