Local Bank Forecloses On Struggling Music Store

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(May 19, 2008)—Community Bank & Trust has foreclosed on Holze Music Company’s flagship store at 1210 Lake Air Dr. in Waco and the store could be sold at auction if the owners don’t pay what they owe.

It’s the latest setback for the struggling business, whose doors have been closed since May 2 when the Texas Comptroller’s Office seized Holze’s Waco store for failure to pay an outstanding $170,000 sales tax liability.

Holze also has stores in Temple, Killeen, Bryan, Frisco, Lewisville, Plano, Round Rock and Houston.

Those were not directly affected by the seizure, but were forced to close until Holze’s sales tax certificate is restored.

The problems could affect hundreds if not thousands of Central Texas band students and dozens of area schools.

Holze is the principal source of rented and rent-to-purchase band instruments in the region and the sole source of sheet music for many area school districts.

The store has been in business for more than 70 years in Waco.

A posting Monday on its Internet site said, “Watch this website to see which of our locations will reopen in your area.”

Click Here For Holze Web Site

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Comments are posted from viewers like you and do not always reflect the views of this station.

Posted by: Judy Location: Plano, TX on Mar 1, 2009 at 02:24 AM
Prior to Holze music closed they were withdrawing money from my account to pay for my son’s clarinet. Since then the payments are no longer coming out of my account. I know for a fact the contract is not paid in full and do not want it reported negatively on my credit report. How do I find out who I should pay and what my pay off amount is? Any help would be appreciated.

Posted by: Liz on May 27, 2008 at 05:32 PM
does this effect anybody making payments or just those that are renting band equiptment? does anyone know? We got our stuff from another store.

Posted by: mikey Location: mikeyt1959@yahoo.com on May 21, 2008 at 01:25 PM
TOOK THE MONEY AND RAN

Posted by: Ron Location: Waco on May 21, 2008 at 06:29 AM
Unfortunately, the Holze name is being drug through the mud even though they sold off their business to someone else who apparently couldn't manage it. My suggestion to future business owners who sell off their local business to someone else, TAKE THE NAME WITH YOU. Make the buyer use a new name to save you a lot of embarassment if the business fails after the sale. I hope everyone gets their problems resolved with this company as soon as possible.

Posted by: Ex-Employee Location: Texas on May 20, 2008 at 09:40 AM
Holze Music still owes all full-time employees, 3 weeks salary and commission, from April 5-25th. Pay was promised, comp days-off were given, with no money in the bank with which to pay. This is FRAUD. This also delayed the process for finding other employment and applying for unemployment.

Posted by: Mad Band Parent Location: Waco on May 20, 2008 at 08:56 AM
This is a pretty sorry company! They cant even tell us what the devil to do with our instruments, where to turn them in for the summer, I guess we need to stop payment with our credit card company? People with broken instruments cant even get them fixed and that is part of the contract, they should be refunded. I think he owes the customers some explination and answers, instead of beating around the bush!!!!!!!

Posted by: Anon Location: Waco on May 20, 2008 at 08:14 AM
The big picture: there were lots of instruments there that were being repaired. Where did those go??? Our band is now short those instruments! Holze's did not own the equipment! They are just a crooked as the big companies!

Posted by: DENISE Location: WACO on May 20, 2008 at 05:08 AM
THEY CAN SEND YOU ACCOUNT TO COLLECTION THREATING CHARGES ON A CLARINET THAT HAD BEEN RETURNED A YEAR EARLIER DEMANDING THE A PAYOFF!! I GUESS THAT'S THE WAY A SUPPLY AND DEMAND BUSINESS CAN OPERATE.

Posted by: DJ Location: Waco on May 20, 2008 at 02:15 AM
What is to bad is companies like this close their doors due to not paying taxes and will soon have their debt wiped clean and open for business again they should be forced to close all their stores until the debt is free and clear. If it was the little guy their doors would have been close way before 170,000.

Posted by: jeff Location: bell on May 19, 2008 at 07:23 PM
now everyone knows why the tractor-trailer was backed up to the store over a week ago when they kept saying they were going to reopen. To bad, another big company gone under.

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