Ever since the first Billy Hyde music store opened in Melbourne in the 1960s, the business became one of the go-to places for those wanting to purchase sheet music, musical instruments, and all manner of music-related paraphernalia. So for many, it was a sad day when the final Allans Billy Hyde store closed its doors this month.
The business was placed in Administration in August 2012, after its majority shareholder, London-based Revere Capital, withdrew further financing for the busy pre-Christmas period.
There has been much media hype about why the business could not be saved by finding a private equity buyer, but there is no doubt that this is a challenging environment for most retail stores, especially those who have failed to embrace the internet as a massive opportunity, rather than seeing it as an impediment to success.
It is not for us to speculate on the reasons for the collapse of Allans Billy Hyde, but our hearts go out to the over-500 staff across Australia who, as a result, have lost their jobs, and to the music-buying public who may be inconvenienced by the closure of the 27 Billy Hyde stores.
We hope that by purchasing a quantity of Allans Billy Hyde stock, our Haworths buying team was able to go some way towards helping the receivers for AMG (the Allans Billy Hyde parent company) to meet outstanding creditors.
Welcome To The Haworth Community
Australians have always had a great love of music, and for decades now Haworth's has been instrumental (pun intended!) in actively encouraging musicians, from beginners to professionals - after all, we are all musicians ourselves!
At Haworth's, we are proud of our reputation for providing knowledgeable and personal service to our customers (and potential customers), regardless of whether they come through the doors of our two level Haworth's Music Centre, through an enquiry from our website, or by phone. In so doing, we have built up a much-valued community of music lovers, their friends and families.
As a company ethos, we understand the power that music has to 'do good', and our visits to schools, spreading the anti-bullying message, is testament to this.
We now invite Billy Hyde customers to join our community, and look forward to combining their love of music with ours.
Posted in: Industry News