Rumour of JHS selling up...

[MuddBass]

I've seen an unofficial notice / rumour that JHS (Dist. for Vintage, Encore et. al) are close to shutting their doors. 

 

I hope that this is not the case, as their products are useful conduits for entry-level (+) musicians. 

 

 

[MuddBass]

And now a press release via here: https://guitar.com/news/gear-news/john-hornby-skewes-jhs-shutting-down/

 

[BassApprentice]

TLDR  - Mr. Hornby-Skewes has passed away and the estate is now closing the company which is in good financial health.

 

I mean, fair enough. Will be a shame to have one less choice, and they were well supported by smaller independent guitar shops. The domination of Squier/Fender shall continue evermore.

 

[snorkie635]

The music trade is taking a serious kicking at the moment. Sad times. There were so many independents and brands when my journey began.

[Dad3353]

5 minutes ago, BassApprentice said:

... Mr. Hornby-Skewes has passed away and the estate is now closing the company which is in good financial health ...

 

Couldn't the employees make a bid for it..? If it's making a profit, there's surely a bank that could help with funding loans or such. Not an option..? 

[BassApprentice]

17 minutes ago, snorkie635 said:

The music trade is taking a serious kicking at the moment. Sad times. There were so many independents and brands when my journey began.

That is normally the story, trying to scrabble together funds to keep the lights on. This is just a business where (as it stands) no-one wants to keep it running, even though it is turning a profit.

 

Although, now it's in the press a magic buyer may appear.

[police squad]

It's a shame and as a JHS endorsee, where will I get my strings from now

The MD is past retirement age but was still working when I last spoke with him. He was, in fact, the rep that visited the shop I worked in back in the last 80s early 90s

 

Also a shame for the staff, I know what it's like trying to sell a business and sometimes it's just easier to close it down but it leaves people out of work

 

Good luck to the staff and to the MD in retirement

[jonno1981]

Blimey. They were distributing so many brands, all of which will be looking for new UK distributors.
When I was in the trade they offered really long credit terms to retailers, it was a proper lifeline to keeping product on the shelves. 
This really isn’t good news for the small independents out there.

[Marvin]

It's worrying that no one wants to buy a profitable solvent business. 

[jonno1981]

What’s weirder is why Mr JHS (RIP) didn’t want his family to continue running the profit making business, forcing it to be sold. 🙁 All a bit odd.

[tauzero]

46 minutes ago, jonno1981 said:

What’s weirder is why Mr JHS (RIP) didn’t want his family to continue running the profit making business, forcing it to be sold. 🙁 All a bit odd.

 

The company is currently being run by Linda and Dennis Drumm (how appropriate) - I don't know if they're family. If not then I assume that JHS himself wanted his family to profit from the company and may not have anticipated that it wouldn't find a buyer.