IN BRIEF: Gear4music buys stock from administrators of UK competitor

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Gear4music Holdings PLC - York, England-based retailer of musical instruments and equipment - Pays £1.2 million to buy stock with an estimated cost value of up to £2.4 million from the administrators of a failed competitor. The assets are from Jamm Co 2019 Ltd and its subsidiaries, including S&T Audio Ltd, which trades as PMT Play Music Today. Gear4music notes that S&T Audio was the UK’s fourth largest retailer of musical instruments and equipment. It says it isn’t buying any part of the trading business, nor any other assets or liabilities.

Gear4music says it will release its results for the financial year that ended March 31 on June 24.

Current stock price: 160.10 pence, up 6.7% in London on Thursday

12-month change: up 26%

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