Dutch musical instrument retailer Bax Music declared bankrupt
Bax Music – a large musical instrument retailer headquartered in the Netherlands and serving Europe – has been declared bankrupt by The Netherlands’ Zeeland-West-Brabant court, according to Dutch news outlet De Telegraaf.
The decision, made on Tuesday, 1 April, follows Bax’s request for a suspension of payments on its debt, which often comes as a precursor to bankruptcy.
Bax Music has reportedly struggled with debts in recent years, owing money to various creditors including the Dutch Tax Authority. Its financial woes were made worse by COVID-19, and then by a fire in 2023 which damaged a number of instruments at a facility in Goes in the southwestern Netherlands.
Despite the bankruptcy filing, however, one of the company’s co-founders, Jochanan Bax – who started it alongside his brother Nathanael – has expressed an interest in relaunching the brand, saying some investors have shown support for such a move.
Per NL Times, Jochanan Bax recently left Bax Music following a dispute with Nathanael Bax, but retains a stake in the company.
Founded in 2003, Bax Music has grown into one of Europe’s largest online music retailers, with six brick-and-mortar stores located in the Netherlands and Belgium and more than 300 employees.
The news is the latest sting for the musical instrument retail industry, amid rumours Brighton, UK powerhouse GAK is having similar problems.
Speculation began to swirl last week when Brighton residents saw the shop’s shutters closed during normal business hours, with signage noting a seven-day closure for “maintenance”. Since then, the company has taken its website offline, and a listing has been created on Business Sale Report – which describes itself as “the UK’s leading marketplace of small and mid-market businesses for sale”.
For more updates, head to Bax Music.
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