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Zavvi to close a further 18 stores
Posted By admin On January 14, 2009 @ 3:44 pm In Business, Finance, Retail | No Comments
The Zavvi group is the UK’s largest independent entertainment retailer.
Administrators of the entertainment chain Zavvi have announced the closure of 18 stores across the UK with a loss of 353 jobs.
The store closures include Zavvi’s flagship store in Piccadilly Circus, London, which employs 110 people. Last week, 22 Zavvi stores were closed.
Zavvi will continue to trade in the remaining 74 stores. Administrators still hope to sell the business.
Tom Jack, Joint Administrator, said: “Despite having received in excess of 70 expressions of interest, we have not received any offers for the store portfolio as a whole.
“Consequently, with reducing stock levels we have had to manage the cost base of the business and close a further 18 stores.”
Zavvi has suffered from the collapse of its main supplier, Entertainment UK in November 2008. Since the supplier went into administration, Zavvi has experienced problems in sourcing stock.
List of stores closing 14 January 2009:
Basingstoke
Belfast (Castlecourt)
Cambridge
Cheshire Oaks (Outlet Village)
Crawley
Londonderry
Edinburgh (Gyle)
Gateshead
Glasgow (Argyle St)
Grimsby
Hull
Newry
Newtonabbey
Piccadilly (London)
Romford
Stevenage
Watford
Woking
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