Birmingham-based hi tech and pro audio retailer Hard to Find Ltd has gone into liquidation.
Insolvency practitioners KJ Watkin & Co have been put in charge of the process and around 20 people have been made redundant, including eight store staff.
A new company, Hard to Find Retail Ltd, has been set up to run the website HTFR.com, which now deals solely in vinyl and CDs – the retailer's original specialist area – from Hard to Find's warehouse address. John MacDonald, a former long term employee of Hard to Find Ltd, has been appointed managing director of the new operation. A number of former staff members have been re-employed, but this does not include any store staff.
MI Pro understands that around £500,000 is owed to creditors, but the amount generated by liquidating the company's assets is not expected to reach this figure.
For more information, contact KJ Watkin of Aldridge on 01922 452881.