Andys Records closes stores
A SUFFOLK-based record company more than 40 years old is to close its 21 stores throughout the UK, it has been revealed.Andy's Records, which has branches in Ipswich, Colchester and headquarters in Bury St Edmunds, will cease all trading as of September following a period in administration.
A SUFFOLK-based record company more than 40 years old is to close its 21 stores throughout the UK, it has been revealed.
Andy's Records, which has branches in Ipswich, Colchester and headquarters in Bury St Edmunds, will cease all trading as of September following a period in administration.
The Ipswich store, formerly based in Dogs Head Street and now located in the Buttermarket Shopping Centre, closed yesterday after ten years in the town.
It will be followed by the Colchester store in Long Wyre Street, which is due to be closed next week.
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Last night, a spokeswoman for the 45-year-old company, which employs about 160 nation-wide, said the company was closing all stores in the UK over the next few weeks apart from ten, which would remain open for trading until September. These would then be closed.
She added another company had bought some of the outlets, however it was unclear last night who the buyer was.
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Administrators RSM Robson Rhodes LLP were drafted in to cut costs in May and it was feared there would be shop closures and redundancies.
The move came in the wake of a boom in music sales over the internet with smaller companies facing pressure from larger high street chains.
A spokeswoman for Andy's Records said: "The Ipswich store closed today.
"It was one of the small stores and one that was not profit making. Altogether, there are 21 at the moment. We are closing them all.
"Colchester is being closed next week. Basically we are having ten that will continue trading until September then the doors will shut.
"Jobs will be lost in all the stores closing, the warehouses and the headoffice."
In the past four years, 17 store within the Andy's Records chain have closed due to increased competition from larger companies.
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