Zavvi to shut 22 stores
Zavvi is to close 22 stores in the UK with the loss of 178 jobs.
By Mark Higgins
‘Despite record consumer demand since Christmas, it is no longer possible to support continued trading across all of the Zavvi stores,’ said Tom Jack of Ernst & Young – the financial experts tasked with helping to save the group from total collapse.
‘Unfortunately the current difficulties faced on the UK high street seem to be discouraging retailers from investing in a significant number of new stores,’ he added. Zavvi will continue trading at 92 stores, Jack said.
Zavvi was formed from a management buy out of the Virgin Megastore, went into administration on Christmas Eve.
It was forced to stop taking new orders on its website after its main supplier’ Woolworths’ Entertainment UK, went into administration in November.
