23 Aug 2012

CX reported possible collapse in February 2012


(23 August) CX said the possible collapse would rejuvenate the struggling music equipment retail market. In the same way that removing Borders helped smaller retailers. For our trouble, we received a royal shellacking from Australian Music Group directors and a nice bag of hate mail from clearly distressed and upset store staff. Understandable.

At the time, CX was reporting what had been leaked by NAB, the loyal bankers to the group, who reasoned that they could apply commercial pressure by suggesting they were about to appoint the undertakers. The suits soldiered on with some small injections of capital, until the inevitable upending today.


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