ONE of the UK's biggest music chains has suddenly collapsed into administration – as employees say they've been “hung out to dry”.
The leading shop filed for insolvency on April 15 after swirling rumours among staff about the future of the business.
Gak Music Emporium in shut up shop on March 25 after its stock and website were reportedly bought by an online retailer for £2.4million.
noticed the site was down earlier this month, with a message saying it was “currently unavailable”.
are now being redirected to Gear4music, a musical instruments and equipment retailer.
The firm has reportedly purchased over a million pounds worth of stock together with assets including websites and trademarks.
According to Connor, a at the store, employees were left in the dark for weeks leading up to being let go.
He said staff had been “hung out to dry” with many made redundant on April 7.
He told the Argus: “We were hung out to dry. On Friday [March 28], they emailed saying ‘still no investors, but we’ll update you on Monday’.
“On Monday we were told there were still no investors. We were told we were employed all this time, so it was very confusing for staff.”;
The musical buff said he's resorted to posting flyers on the closed shop front advertising his services in a bid to secure some work.
A spokeswoman for Gear4music said: “The company has entered insolvency and appointed an insolvency practitioner.
“Its assets, including stock, branding, and websites, have been sold to Gear4music.com.
“The original company, however, still legally exists and remains responsible for its liabilities, but may not have funds to meet them.”
This comes just weeks after that had been in business for almost 50 years was forced to close.
The family-owned store, which started as an organ shop, had been plagued by long-term parking issues.
Intasound first launched on Narborough Road, , in 1976 and was the town's last remaining independent music store.
Lloyd Wright and his brother Alex took over the business after their dad, Malcolm, retired.
But the brothers say the lack of parking had been a huge issue and was impacting sales.
Lloyd told Leicestershire Live said: “Regular feedback is about parking not being available, if you’re buying a large piece and having to park three roads down, it’s just not practical.”;
