F-Musiikki seeks corporate restructuring to reduce debt

Traditional Finnish music retailer F-Musiikki has filed for corporate restructuring to cut its debt burden, CEO and co-owner Rami Alanko told Yle.

The company, which imports and sells instruments, sheet music, audio equipment, and accessories, submitted its application to the district court last week. Alanko cited intense international competition from online retailers—particularly Germany’s Thomann—as a key factor in the company’s prolonged financial struggles.

Alanko and his business partner acquired F-Musiikki at the end of 2024. Since then, they have closed physical stores in Turku, Oulu, and Kuopio, revamped the online shop, and outsourced warehousing and related staff. The company now operates a single brick-and-mortar store in Vantaa’s Pakkala.

Despite the restructuring bid, Alanko insists the business remains viable, pointing to improved monthly sales and reduced fixed costs. The decision to seek debt restructuring was difficult but responsible, he said.

The process is not expected to affect the current workforce of about 40 employees, a number that has halved in recent years. Alanko, also known as a member of the pop band Neon 2, emphasized the importance of preserving F-Musiikki’s legacy. The company traces its origins to 1897, when its predecessor, Helsingfors Nya Musikhandel, was founded. It later became Fazerin Musiikkikauppa in 1919 and was rebranded as F-Musiikki in 1998.

“We’re doing everything we can to ensure it’s here for the next 100 years,” Alanko said.