Music retailer Allans Billy Hyde has collapsed
Australian music retailer Allans Billy Hyde has entered voluntary administration.
The past few months have seen a chain of store closures. Including the Alexandria, Southport (QLD) and Windsor (QLD) stores, which all shut their doors over the most recent June long weekend.
The company has a history of poor retail conditions, which have been blamed for the business folding. In 2012, the outlets parent company Australian Music Group Holdings, was placed into receivership; with $3 million owed in entitlements to staff.
MusicFeeds reports that a number of employees are owed thousands of dollars of unpaid wages; two former employees are owed up to $22,186.37.
Administrators have stated that their assignment to Allans Billy Hyde was merely due to the company being a victim of the “tough retail market”.
The only Allans Billy Hyde store that is still trading is in Melbourne’s Bourke Street.
The article was originally published on The Industry Observer