PMT, previously the UK’s largest bricks-and-mortar musical instrument retailer, has entered administration and shut down all operations with immediate effect. The decision has resulted in the permanent closure of its 11 retail stores and warehouse in Liverpool, as well as the termination of its online store. Ninety-six staff have been made redundant, with a further 48 retained to support the administration process.
The company, officially trading as S&T Audio Limited, reported a turnover of £43 million for the year ending April 2024. It was the fourth-largest musical instrument retailer by revenue in the UK, with a strong presence in major cities.
All remaining stock and select intangible assets, including trademarks, commercial data, and websites, have been acquired by Gear4Music for up to £3.6 million. This deal secures some of PMT’s legacy but leaves a significant gap in the UK’s physical music retail landscape.
Administrators cited shrinking margins due to competitive pricing, declining consumer confidence, rising operational costs, and tightened supplier credit terms as critical pressures. Attempts to restructure, sell, or refinance the business failed to produce a solvent solution.
