Using Google translate.. so expect some wonkiness -
Bax Music has requested a deferment of payment today, Jochanan Bax confirms following reports from the PZC. The company is in financial trouble due to a combination of a decline in turnover and millions in debt to the tax authorities.
Things have gone wrong since corona," says co-founder and shareholder Jochanan Bax. "Professionals stopped taking action then. We then received corona support, but it still had to be repaid, of course." Then there was a fire in 2023. "As a result, there was little focus on commerce," says Bax. Discussion then arose about the future of the company. A number of shareholders wanted to sell it. “I wanted to grow,” says Bax.
Dismissal The disagreement escalated earlier this year. Jochanan Bax was fired by the other shareholders - his brother Nathanaël, father-in-law Hans van Deursen and investor Rabo Participaties.
An interim management was subsequently appointed. He tried to help the company out of its financial dire straits. But the debts turned out to have risen too high, writes the PZC. There is talk of excessive investments and failure to pay tax debts.
Receiver An administrator has now been appointed who, together with the management, is investigating options for a restart. Jochanan Bax says that he will certainly announce himself as the buyer of the remaining shares. Nathanaël Bax could not be reached for a response this afternoon.
Bax Music Bax Music is one of the largest online music stores in Europe. It was founded in 2003 by brothers Nathanaël and Jochanan Bax with a store in Goes. The company has stores in Goes, Apeldoorn, Rotterdam, Amsterdam, Antwerp and Bruges.