Golden Discs says it has been “significantly impacted” by Covid-19 and the lockdowns on the retail sector.

All non-essential retail here has been closed since the start of the year, in the latest lockdown aimed at limiting the spread of the pandemic.

The chain of music shops has implemented cost savings across the business and is in dialogue with landlords to agree “sustainable terms” for continued tenancy.

All of its 21 stores remain closed but are scheduled to reopen on 17 May with other non-essential retailers.

“Getting the stores back open and cash generative is the number one priority right now,” Stephen Fitzgerald, CEO of Golden Disc Group, said.

“We are really excited about welcoming our customers back instore and very encouraged to observe UK retailers reopening experience suggesting strong sales on the back of pent-up demand,” he said.

Golden Discs said it has experienced “significant growth” in ecommerce sales over the past year as consumers shop online during extended lockdowns.

Vinyl sales have “remained robust” in the past 12 months, the company said.

“As the streaming market matures, many people are turning to vinyl as the preferred ownership format” Mr Fitzgerald said. “We’re seeing many people upgrading their turntables and building out their vinyl collections.”

In addition to the core audio and visual product categories, Golden Discs will continue to expand into new merchandise, clothing, and accessories, which, it said, performed well prior to lockdown.

Golden Disc Group report consistent sales of €13.2m for year-end December 2019, down less than €35,000 on 2018’s turnover. However, this was prior to any lockdowns taking place.

The group experienced a decrease in net profit after tax from €192,072 to €113,742 mainly due to increased operational costs, according to a statement from the company.