Gear4Music buys £2.4m of stock and assets from collapsed rival Gak.co.uk

AIM movers: Gear4Music acquires stock from former competitor and Sosandar downgraded

Musical instruments retailer Gear4Music (LON: G4M) has acquired assets from the administrators of GAK (GAK.co.uk Ltd and The Guitar, Amp & Keyboard Centre Ltd). The stock purchased cost £600,000 but could have a value three times that figure. Gear4Music had been hit by discounting by GAK. There are no plans to use the GAK trading […] The post AIM movers: Gear4Music acquires stock from former competitor and Sosandar downgraded appeared first on U…

Gear4music soars amid asset purchase, sales growth – Northern Financial Review

Shares of York-based online musical equipment retailer Gear4music plc rose more than 20% after it published details on an “asset purchase from competitor in administration” and also a trading update. The York firm said it has purchased “stock with a cost value of £1.8 million, together with certain intangible assets including websites, trademarks, and commercial data, for a total consideration of £0.6 million.” It said these assets are being pur…

Gear4Music buys £2.4m of stock and assets from collapsed rival Gak.co.uk

The Yorkshire musical instrument seller says it has no plans to use the Gak trading name

Shares soar at music retailer after buying assets of GAK from administrators

Gear4music has acquired the assets of Guitar, Amp & Keyboard Centre (GAK) which had fallen into administration.