BILLY HYDE COLLAPSES

joshthedrumkid97

Senior Member
Received an email today from SmartCompany about Billy Hyde Music going out of business! This is sad news for musicians in Australia. The email:

"Dear SmartCompany reader,

The collapse of iconic music retailer Allans Billy Hyde is yet another example of the havon being wrought on the retail sector by structural change. The group commanded a stunning 25% of its market in Australia but as Patrick Stafford explains today, its offshore investor couldn't face another Christmas."

from SmartCompany's website:

"Iconic retailer Allans billy Hyde collapses: Why its offshore backer pulled the pin.

Another retailer has bitten the dust. Australian Music Group Holdings, trading as the iconic Allans Billy Hyde brand, has been placed in receivership.

Rumours of the company's demise were floating around in March, but joint managing director Tim Mason told SmartCompany at that time the company had received an injection of capital, debt was reduced, and the business was trading fine albeit in rough conditions.

the fact a business of this size and calibre - it owns 25% of the market - can be struck by the retail downturn demonstrates the strength of pessimistic consumer confidence but also the ramifications of offshore retail.

Ferrier Hodgson confirmed yesterday the company had been placed in receivership - and those same harsh retail conditions are to blame.

' Things are pretty rough in retail right now,' Ferrier Hodgson partner James Stewart told SmartCompany.

"The business had been recapitalised as far back as March, and the business was not traveling at levels the people in charge would have liked it to travel at. The stakeholders decided to call it a day.""

Billy Hyde Music has been around since the 1850's and employs 500 staff across 25 stores with four franchisees among those. The first Billy Hyde store was opened on Collins Street in Melbourne and still maintains a presence in the CBD.
Make sure you support your local business's! Or they might not be around for long.

Josh
 

Andy

Administrator
Staff member
Reduced choice is never a good thing, & of course, this is terrible news for the 500 staff.
 

Pocket-full-of-gold

Platinum Member
Read about it in the papers yesterday. What a great shame.

I've been going to the original Hydes store in Flemington since I was a little kid and still have a great relationship with many of the staff there to this day. By far my favourite drum store.

I was surprised by the need for the merger with Allans Music in 2010 and was hoping it was enough to stave off the wolves from the door. Sad to see another institution bite the dust. But with the vast chasm between retail and online prices in this country, I'm sure we're only gonna see more of it.
 

joshthedrumkid97

Senior Member
Read about it in the papers yesterday. What a great shame.

I've been going to the original Hydes store in Flemington since I was a little kid and still have a great relationship with many of the staff there to this day. By far my favourite drum store.

I was surprised by the need for the merger with Allans Music in 2010 and was hoping it was enough to stave off the wolves from the door. Sad to see another institution bite the dust. But with the vast chasm between retail and online prices in this country, I'm sure we're only gonna see more of it.
I've also made a few mates at billy Hyde and they've also provided great service and a good range of stuff, it sucks
 

Anon La Ply

Renegade
Drum City is taken over by Hydes then Hydes is taken over by Allens and now the whole thing's folding. Andy, when you say "reduced choice", we already had bugger all choice, hence the high prices.

Buying online can't replace the experience of stepping into Wonderland. Not for me, anyway, especially when it comes to trying out cymbals.
 

Andy

Administrator
Staff member
Andy, when you say "reduced choice", we already had bugger all choice, hence the high prices.
A little strange that a company with 25% market share, & reportedly able to charge higher prices due to a lack of competition, has gone under. If their margins were the only reason their prices were high, I'm wondering why they didn't have the headroom to react to increased competition from online suppliers. There must have been other factors at play.
 

tamadrm

Platinum Member
I know how you guys feel.It's almost like a part of you being taken away.Childhood memories,the sight,smell and people that worked there.It's a visceral experience going to places like that.

When Sam Ash finally closed Manny's on 48th street,it was the same for me.A little piece of my past was now gone,and never coming back again.

Steve B
 

8Mile

Platinum Member
Drum City is taken over by Hydes then Hydes is taken over by Allens and now the whole thing's folding. Andy, when you say "reduced choice", we already had bugger all choice, hence the high prices.

Buying online can't replace the experience of stepping into Wonderland. Not for me, anyway, especially when it comes to trying out cymbals.
Yeah, it's so ridiculous. My local shop has basically given up on retail in favor of just focusing on music education. The revenue from music lessons is what has kept the shop afloat for a few years now as even the students were walking past a showroom full of gear to shop online and save a couple bucks.

It's a dismal state of affairs that small business, brick and mortar shops are getting squeezed so bad. I'm just hoping that the inevitable backlash against everything happens with online shopping for musical equipment. And the sooner, the better. As you say, buying things you can't even play first is absurd to me. People need to wake the f*** up.
 

toddmc

Gold Member
Went into my local BH shop over the weekend- the atmosphere was non-congenial to say the least! Having said that, you can hardly blame the staff for being less than enthusiastic given that their livelihoods are in jeopardy, with very little chance of being employed in another music retail shop.
I must admit I felt a bit like a vulture picking over a dead carcass when I went in there looking for bargains but one of the staff informed me that Guitar Centre (US) may buy out the company at the 11th hour and keep it solvent (fingers crossed)!
 

Pocket-full-of-gold

Platinum Member
.........but one of the staff informed me that Guitar Centre (US) may buy out the company at the 11th hour and keep it solvent (fingers crossed)!
That's really interesting. Whilst I've read about the perils of GC from the Yanks throughout these boards, I'd dearly love to see the brand saved. Hydes are an institution and it is such as shame to see them go. Aside from a bunch of friendly and knowlegeable guys at the Flemington store losing their jobs, my other great concern is who the hell is going to stock Ludwig? Drumtek have no arrangement with them as far as I know. I can't recall seeing the brand anywhere but Hydes.

For once, it would appear that I'm cheering for GC!!
 

toddmc

Gold Member
That's really interesting. Whilst I've read about the perils of GC from the Yanks throughout these boards, I'd dearly love to see the brand saved. Hydes are an institution and it is such as shame to see them go. Aside from a bunch of friendly and knowlegeable guys at the Flemington store losing their jobs, my other great concern is who the hell is going to stock Ludwig? Drumtek have no arrangement with them as far as I know. I can't recall seeing the brand anywhere but Hydes.

For once, it would appear that I'm cheering for GC!!
Yep, I got my 2nd bass drum direct from Ludwig via BH (saved me having to buy a whole 2nd hand kit off ebay).
Plenty of people complain about the their high prices and sadly, we're all guilty of trying out gear instore then going online to make the purchase.
Also, who else in Oz would organise all the great drum clinics they've put on over the years?
 

Pocket-full-of-gold

Platinum Member
Plenty of people complain about the their high prices and sadly, we're all guilty of trying out gear instore then going online to make the purchase.
And herein lies the problem I guess. We're not talking about a few bucks saving.....for the sake of $20, $30 or perhaps even $50, I'd gladly support the local scene. But for larger items like drums and cymbals, more often than not we're talking hundreds in saving by buying online. It's Catch 22 and sure, we're suffering for it by watching bricks and mortar stores folding.......but really, what is one supposed to do when the average savings can anywhere between 25% to 50%?
 

toddmc

Gold Member
And herein lies the problem I guess. We're not talking about a few bucks saving.....for the sake of $20, $30 or perhaps even $50, I'd gladly support the local scene. But for larger items like drums and cymbals, more often than not we're talking hundreds in saving by buying online. It's Catch 22 and sure, we're suffering for it by watching bricks and mortar stores folding.......but really, what is one supposed to do when the average savings can anywhere between 25% to 50%?
Exactly right- online stores don't have to worry about staff salaries, rent and God knows what other costs are involved in running a store from a physical location.
The staff member I spoke to was of the opinion that GC were relatively "cashed up" and had the means to save the company because they pay small amounts for freight within the US.
If GC does acquire BH though they would still have to pay the excessive freight fees to ship to Oz, resulting in higher prices, sending customers back to ebay and we're back to square one. Hopefully GC has a plan to cut delivery costs!
 

Galadrm

Senior Member
I have heard a rumours that a drum shop may be installed where the current billy hide in adelaide exists. Not good to hear of them shutting down at all, great staff and gear, but it is good to see another business prepared to brave the music market in Australia and will look forward to checking out a shop completely comprised of drums and drum gear.
 

toddmc

Gold Member
I have heard a rumours that a drum shop may be installed where the current billy hide in adelaide exists. Not good to hear of them shutting down at all, great staff and gear, but it is good to see another business prepared to brave the music market in Australia and will look forward to checking out a shop completely comprised of drums and drum gear.
I can only hope that happens on the Gold Coast!
 

Anon La Ply

Renegade
And herein lies the problem I guess. We're not talking about a few bucks saving.....for the sake of $20, $30 or perhaps even $50, I'd gladly support the local scene. But for larger items like drums and cymbals, more often than not we're talking hundreds in saving by buying online. It's Catch 22 and sure, we're suffering for it by watching bricks and mortar stores folding.......but really, what is one supposed to do when the average savings can anywhere between 25% to 50%?
True. I bought a pedal online - $700 at Hydes, $390 at MusiciansFriend + $60 postage. Having said that I've never bought a cymbal online. I like to hear them in the flesh (metal) and I always bought them from drum city, and then Hydes, who have always been most conveniently located for me.
 

wombat

Senior Member
Sad as I am to see the Billy Hyde name go under I feel they priced themselves out of the market ...well compared to other bricks and mortar stores in Perth.

I went to look at their "closing down" sale and found their reduced prices were on a par with stores like Musicpark....certainly not cheaper.

They did have a big range, but they just didnt compete with other stores price wise...which surprised me as I thought they had a national franchise and therefore more buying power...but the smaller independants in perth have the same stuff for less.

Mind you good luck getting Meinl or Ludwig in Perth from now on........

With the Aus dollar the way it is Drum prices retail should be a lot cheaper than they are. Things like Drum heads, hardware, drumsticks are extortionate for what they are made of, and where they are made.

So sorry though I am to see the name die, Billy hydes aint what they were in the halcion days when every live act had "billy hyde drum clinic" on their drums.
 
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