Online retailer Bax Music files for bankruptcy
Bax Music, a major seller of musical instruments and equipment, has been declared bankrupt by the Zeeland-West-Brabant court, De Telegraaf reports. The decision, made on Tuesday, follows the company’s request for a suspension of payments last week—often a precursor to bankruptcy.
The company has struggled with financial difficulties in recent years, owing debts to various creditors, including the Dutch Tax Authority. The financial strain was exacerbated by the COVID-19 pandemic and further compounded by a fire in 2023 that damaged a significant number of musical instruments at a facility in Goes.
Founded in 2003, Bax Music has grown into one of Europe’s largest online retailers of musical instruments and equipment. In addition to its online presence, the company operates six physical stores in the Netherlands and Belgium. The business employs more than 300 people.
The company was established by brothers Nathanael and Jochanan Bax. However, a dispute between them led to Jochanan’s departure from the company’s management, though he retained a significant stake in the business.
Despite the bankruptcy ruling, Jochanan Bax has expressed interest in facilitating a restart for the company. Following the initial request for suspension of payments, he stated that he was working toward a relaunch, adding that investors had shown interest in supporting such a move.
