Gear4music in York not expecting impact from coronavirus

Online musical instruments retailer Gear4music said it does not expect the coronavirus outbreak to have an adverse impact on its trading for the current financial year ending March 31, 2020.
By Ismail Mulla
Published 18th Mar 2020, 08:07 GMT
Updated 18th Mar 2020, 08:08 GMT
Gear4music's warehouse.Gear4music's warehouse.
Gear4music's warehouse.

The York-based firm said it is confident that results will be at least in line with the board's expectations.

Supply chains are currently operating as normal and the business has pre-planned for some disruption by way of tactical forward purchasing.

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Gear4music said it is confident that it holds sufficient inventory to continue serving customers for several months, with additional stock on the way.

The firm added that it has financial resources to secure further inventory as necessary.

"Our delivery partners are operating largely as normal, and we continue to see good demand as we successfully deliver into the UK and mainland European countries, including Italy, France and Germany," Gear4music said in a statement.

"The group is taking all appropriate precautions to keep people safe while ensuring ongoing operations, and whilst we cannot predict the long-term impact of the outbreak, the group has the benefit of an online business model and is appropriately positioned for the year ahead."

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