Yesterday afternoon the news was released that Sound Control has filed for administration (in the USA it's the same as bankruptcy). It is understood that 10 of the company’s 26 stores have closed whilst the remaining 16 will continue to trade under the control of the administrators. Unfortunately 100+ staff have been laid-off. The stores do about £50m ($100m US) worth of business.
The Group operates from 26 stores across the UK, under the brand names Sound Control, Media Tools, Turnkey and Soho Sound House, and is the largest musical instrument retailer in the UK.
This came as quite a surprise to the industry.