CHEMICAL RECORDS GOES INTO ADMINISTRATION
Sadly it’s been confirmed another Bristol record shop, the longstanding Chemical Records have now filed for administration and have closed down as this statement from the appointed administrators confirms.
Music & Lifestyle Ltd, which traded as Chemical Records from St Vincents Trading Estate, Bristol has gone into Administration. The company, which sold music related equipment and clothing, was bought out of Administration last summer by the existing management, but failed to reach its expected sales targets.
David Tann and John Kirkpatrick from the Reading office of accountants Wilkins Kennedy LLP were appointed Administrators on Wednesday 26 March 2014.
David Tann said,’We were appointed at short notice and had very little time to try and find a way forward for the business. Whilst we have spoken to a number of parties there appears to be little appetite from anyone to take on the whole business. As a result we had to take the difficult decision to close the doors completely and make all 19 staff redundant.’
The Administrators are currently considering offers for the assets of the company.
As reported on the Bristol Post website, their warehouse stocked more than 40,000 different titles of 12-inch vinyl records covering everything from house, trance, drum ‘n’ bass, techno, UK garage and hip-hop. The company started life as a record shop in Cheltenham in 1997, and was founded by friends Gordon Adam and Mark Walton. Chris Ramsay, a school friend of the pair, joined in 2000 to take on the internet side of the firm. Chris Ramsay claimed Chemical Records had the biggest and best operation in the dance scene in the UK. It was the trio’s love of rave music that drew them into the business of selling dance music gear. Mr Ramsay said they moved the shop to Bristol because of the popularity of the music scene in the city.
by 247 Magazine