It’s been a tumultuous year for music retailer Allans Billy Hyde. First it was reported back in August that the popular chain was going to be placed into receivership, with debts of over $40 million, with hundreds of jobs feared to be lost, until a former rival swooped in to save the music retail chain at the last minute earlier this week.
Con Gallin, the Managing Director of Australian Musical Imports (AMI) and Gallin’s Musician’s Pro Shop retail stores, shocked many by purchasing the company at the eleventh hour, ensuring the majority of the staff will keep their jobs.
Now, more good news has come for music retail, with Billy Hyde’s son Garry announcing that he will be re-opening a music store on the original Billy Hyde site in the Melbourne suburb of Flemington.
The Melbourne location is where the Billy Hyde half of the expansive retail chain began, way back in 1962. Legendary drummer Billy Hyde opened the first store as part of his music teaching, and the business stayed in the family up until it’s sale in 2007.
In the vein of the old heritage site, Billy’s son Garry has assembled a crack team of experts to help him run the re-worked store, under the name GH Music.“Call me crazy, but I still think there is room for a family owned music business.” – Garry Hyde
“Call me crazy, but I still think there is room for a family owned music business,” said Garry Hyde of his new business venture, and the team that Hyde Jr has assembled to help are equally as positive about the re-worked location.
“We are all incredibly happy to have the opportunity to help musicians of all ages again at this iconic location,” enthused store manager Les Brazil. While drum manager Pete McDonald also shared his commitment to the project, commenting “I am excited that we have the chance to continue the legacy of drummers helping drummers.”
As the founder of the largest musical instrument distribution company in Australia, Musiclink, Hyde has plenty of experience in the industry.
He sold the chain prior to its merger with Allans in 2010 in order to focus on other ventures. However, as of December 13th, when the store will be re-launched, he will again be concentrating his efforts on the legacy of his famous father.
The announcement is just the latest in a turnaround in the retail powerhouse’s fortunes, after a period of bad news after bad news.
The fate of the store looked grim as the public learned of Allans Billy Hyde’s massive debts as it entered receivership. Not only were hundreds of jobs expected to be lost, but their financial position was so dire that music stores would not honour any pre-purchased gift vouchers and deposits were not be refunded.
But after the purchase of the bulk of the company’s assets by Mr. Gallin, including the trading names Allans Music and Billy Hyde, Allans Billy Hyde, Australian Music Group, Musiclink and Intermusic together with their associated domain names and websites, things started looking up for the chain.
Gallin had previously slammed the Australian Music Group for their management of the stores, saying that they “lacked music retail expertise and as a result lost large amounts of money.”
“They couldn’t adjust the company expenses to meet reality and they are not inspiring entrepreneurs. This is the game of Monopoly out of control and the economy is not to blame,” he said.
Hopefully with Gallin taking the reigns, the Allans Billy Hyde will fare a little better. Either way, music lovers will have Garry Hyde’s re-launched Flemington site as a reminder of the past success of the stores.
