Management buyout at Musikhaus Krompholz
Alexander Steinegger, Managing Director of Bern-based music store Krompholz, is taking over the company's business operations and staff as part of a management buy-out on October 1, 2014. The premises in the old town will be closed.
According to the official press release, Steineggerr intends to continue the long-established company under the new name Krompholz Musik AG. The new location at Effingerstrasse 53 in Bern will offer acoustic and electronic keyboard and string instruments as well as sheet music from October 1, 2014.
The staff at the Krompholz piano workshop will continue to service and repair the instruments. However, the sale of string instruments will be discontinued in future.
The sale of the activities of Musikhaus Krompholz will lead to a special write-down of around one million francs on the inventory. The parties have agreed not to disclose the purchase price.
