17 Oct 2012

Hydes Adelaide reverts to John Reynolds!


A glimmer of good news after today’s depressing note from corporate undertakers Ferrier Hodgson that they will shut all the Allens Billy Hyde stores (except for the franchise stores). Plus throw 500+ staff into the dole queue, albeit quickly so they ‘can access the Government Entitlements and Redundancy Scheme (GEERS)’.

In Adelaide John Reynolds sold out to Hydes around 6 years ago, and then watched as the suits in his words ‘stuffed it up’.

He told CX this afternoon that he would retain ALL the staff in the Adelaide store. He was standing there, and we took his photo (above). So it must be true.

CX hears that Con Gallin, Managing Director of Australian Musical Imports (AMI) and Gallin’s Musician’s Pro Shop retail stores, will be interviewed on ABC News at 7pm tonight.

“The loss of jobs is disappointing, but we exhausted all avenues and there is no other way forward for this business,” receiver, Mr Brendan Richards said. “These people have served music lovers and been a key part of the Australian music industry for generations. It is a sad day for live music in this country.”

Mr Richards said the Receivers will work with the Administrator to enable all employees to make claims for their entitlements through the Government Entitlements and Redundancy Scheme (GEERS) as quickly as possible.


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