Tone World enters administration
Guitar retailer Tone World has been placed into administration.
The company, which sells online and has a shop in Manchester, has seen John Kelly and Nigel Price of Begbies Traynor appointed as administrators.
The administrators said that one of the reasons for the business failure was that it had become embroiled in an ongoing legal dispute.
The business is continuing to trade while a buyer is sought.
Never Miss a Retail Update!Kelly said: “We’re still in the stages of making initial assessments and have begun marketing the business in the hope that a suitable buyer can be found.”
Two members of staff have been made redundant.
According to its website, Tone World has worked with a range of major artists including Elbow, Gary Barlow and Johnny Marr. A number of artists are also known to have made appearances at the shop.
