UPDATE 23/07/18: liquidation-ato-court-case/#/slide/1″ rel=”noopener” target=”_blank”>Allans Billy Hyde Parent Company Goes Into Liquidation, Following ATO Court Case
ORIGINAL STORY: Australian music retailers Allans Billy Hyde and Gallin’s Musician’s Pro Shop have been placed into voluntary administration, while their parent company faces ‘winding up’ proceedings in the Federal Court of Australia.
While a number of Allans Billy Hyde employees are owed thousands of dollars in unpaid wages, administrators maintain that employees will be paid normally throughout the administration period.
Administrators John Lindholm and George Georges from Ferrier Hodgson have been appointed as voluntary administrators, and are looking for interested buyers for the businesses.
“Allans Billy Hyde and Gallin’s are an iconic Australian music retailer,” said Lindholm.
“We are immediately calling for expressions of interest for a sale of the business as a going concern.”
Lindholm also cited “difficult conditions in the music industry” as a contributing factor to the companies’ current financial position.
Allans Billy Hyde and Gallin’s are owned and operated by Australian Music Group (AMG), which also runs Musicians Warehouse.
AMG closed its Allans Billy Hyde stores in Alexandria (NSW),…