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Zavvi placed into administration
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by Jordan Yerman | December 24, 2008 at 08:20 am
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Zavvi, the DVD and gaming chain which bought out Virgin Megastore in 2007, is going into administration. Zavvi will continue to operate for now, but will scale back deliveries and no longer allow merchandise returns.
The relatively-new chain has faced stiff competiton from all sides, including the Internet and even supermarkets, which are carrying more multimedia these days.
Zavvi's main supplier is Woolworths' unit Entertainment UK (EUK), which went into administration on 27 November.
All of Zavvi's stores should be open as normal on Boxing day, for its traditional post-Christmas sale.
"Is there room for a music store on the High Street? The answer is probably no," he added, highlighting the intense competition from digital downloading, online gaming and cheap CDs from the supermarkets.
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Most RecentMost Recommended Comments (5)
at 14:40 on December 24th, 2008
kieran120 has contributed a photo to this story.
at 15:27 on December 24th, 2008
Two Icons going down as one.
at 04:00 on December 25th, 2008
Zavvi was one of the first stores to open in March 2008 as part of the Atrium Development in Camberley. Not all the shop units have been let and now there is the risk of closure to Zavvi. The store on Christmas Eve was the busiest I have ever seen!
Myles Chuter has contributed a photo to this story.
at 17:16 on December 25th, 2008
Is it any surprise that this has happened? I had a feeling from the day I saw the message on their website regarding their supplier (Entertainment UK) that they would be next to go. Also would have to say that Zavvi have never really been the cheapest on the high street and really, when other places are selling it cheaper, in the economic situation we are currently faced with, what are you going to do? Spend more because it's where you always buy you stuff or shop around?
at 05:41 on December 26th, 2008
The photo I have contributed is UnderOath playing at Oxford Street Zavvi, just before playing at the Astoria, was a great pre-show show! Katt Weaver www.flickr.com/photos/kattxweaver
Katt Weaver has contributed a photo to this story.