Zavvi to close another 18 stores

The administrators to Zavvi have announced that they are closing 18 more stores with the loss of 353 jobs.

The remaining 74 stores throughout the UK will remain open. The administrator is still hoping to sell the business as a going concern.
“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,” said Tom Jack at administrator Ernst & Young.” The group’s flagship store in Piccadilly in London, which employs 110 people, is one of the stores earmarked for closure.

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