Gear4Music has acquired certain intangible assets, including the websites, trademarks, commercial data and stock of Play Music Today (PMT) owned by S & T Audio Ltd – a competitor which also focused on musical instrument retailing via eleven stores and with annual sales of circa £43m.
S & T Audio had appointed Rick Harrison and Howard Smith from Interpath as joint administrators, as shrinking margins and fragile consumer confidence in addition to increased operating costs had driven it to record a loss of £280k.
It is understood that Gear4Music will not be acquiring any part of PMT’s trading business, other assets or liabilities and does not to use the PMT name going forward.
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