Rick Harrison and Howard Smith from Interpath were appointed joint administrators to S & T Audio Limited, which trades as PMT (Play Music Today), on 11 June 2025.
Headquartered in Liverpool, PMT is a multi-channel retailer of musical instruments and associated musical equipment. The Company operates from 11 stores across England and Wales, as well as via its online platform PMT Online.
In common with other companies operating across the music retailing sector, PMT had faced a variety of challenges in recent times which had impacted financial performance. Competitive pricing of musical instruments had shrunk the margins of top-branded equipment, while fragile consumer confidence was impacting sales of high-end products. The Company was also impacted by the ongoing industry-wide upward pressure on fixed costs, including rent, business rates and people costs. In addition, and following a number of recent insolvencies across the sector, credit terms had also tightened up and down the supply chain, all of which ultimately had a detrimental impact on PMT’s cashflow.
In response, the directors sought to explore the options available to them, including a possible reorganisation of their store estate, as well as sale, refinance and investment options. However, with no solvent option available, the directors took the decision to file for the appointment of administrators.
Immediately following their appointment, the joint administrators concluded a sale of certain of the Company’s assets, most notably the Company’s stock, to Gear4music Limited. Regrettably, PMT’s 11 stores have closed with immediate effect.
Rick Harrison, managing director at Interpath and joint administrator, said: “It’s been a tough few years for specialist music equipment retailers who have battled headwinds including rising costs, dwindling margins and the rising cost of living affecting consumer behaviour. Unfortunately, despite the best efforts of the board, in the case of PMT, these challenges proved too difficult to overcome.
“While we are pleased to have concluded a sale of the stock and other assets to Gear4music, our immediate priority is to provide support to those employees who have been made redundant, including supporting them with claims to the Redundancy Payments Service.”
