(May 27, 2008)—In the week since Community Bank & Trust foreclosed on Holze Music Company’s flagship store at 1210 Lake Air Dr. in Waco, customers, particularly those who rented instruments for a school year that is drawing to a close, have received confusing and contradictory information about what they need to do.
And it’s not just a problem in Waco.
Holze also has stores in Temple, Killeen, Bryan, Frisco, Lewisville, Plano, Round Rock and Houston.
In a published report Friday, Larry Kelly, an attorney who represents Holze Music, said the chain is out of business and advised customers with band instruments to return to contact the bank.
But in a statement issued in response, Community Bank & Trust attorney Jeffrey Cox said the bank is not in a position “to step in and take control of matters involving Holze Music.”
“While the bank shares the frustration being expressed by many of Holze’s customers,” the statement continued, “it is not able to collect the instruments from those needing to return them.”
Kelly told News Ten Tuesday that customers who want to stop payments to Holze may call their banks or credit card companies to halt transactions, but said they should send notification to the address listed on the contract with the company.
Cox, however, said customers are still subject to the terms of the rental contracts they signed and said they should “be patient as these matters are resolved.”
Holze’s doors have been closed since May 2 when the Texas Comptroller’s Office seized the Waco store over an outstanding $170,000 sales tax liability, which has since been paid.
The chain’s other stores were not directly affected by the seizure, but were forced to close because Holze lost its sales tax certificate.
The problems could affect hundreds if not thousands of band students and dozens of area schools.
Holze was 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.
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