We have just been reached by the news that the distributor Luthman has also filed for bankruptcy. The news comes in the wake of the Norwegian owner and group MRH being filed for bankruptcy.
One of the largest distributors of music equipment in Sweden, Luthman SMTTS AB, has filed for bankruptcy. As we have previously reported, it is clear that the Norwegian, Danish and Swedish 4Sound stores will close and have a sale tomorrow Wednesday.
The letter that went out to customers states the following:
Luthman SMTTS AB has filed for bankruptcy due to insolvency in the parent company.
The future prospects are unclear, but we have good hopes of continuing the business in some form.
The letter states that Luthman still receives orders, but that the transport is arranged by the buyer who will then email his own consignment note to email@example.com.
Luthman SMTTS AB is a merger between originally three distributors: Luthman, Swedish Music and TTS.