Bax Music a Dutch online retailer of music and tech products in filed for bankruptcy on April 1st. This follows on from well known Brighton online retailer GAK ceasing trading at the end of March. A couple of days of me doing some digging and well, basically it isn’t looking good with not one music retailer online or with physical stores having a positive outlook right now with many saying that unless there is a turnaround then closures of stores or even complete company closures are sure to happen in the next 6 months or so. Even my contacts are saying that Behringer is having to discount to keep sales moving with some reports saying the general music hardware and software market has shrunk between 25% – 50% this year, depending on sources. Remember we are only 3 months in to the year, so that is literally a collapse in the market in a very short period of time!
