Zavvi in administration

[_dark_blu]

Just been told by a friend that works for Zavvi that they're on the verge of announcing they're going in to administration. Apparently it's been known but kept quiet by the big chiefs for a while. Haven't found any news stories to confirm this 100% but I think something will be announced soon.

[loz]

BBC NEWS | Business | Zavvi placed into administration

Music, games and DVD chain Zavvi has gone into administration, Ernst & Young has announced, threatening 2,500 jobs.

The troubled chain has been badly affected by the demise of Woolworths, which forced it to stop taking new orders via its website.

It was also forced to cancel existing orders. Zavvi's main supplier is Woolworths' unit Entertainment UK.

[C225]

Breaking news on sky at the minute

I was in yesterday and you could tell someting was up as the latest family guy and american dad boxsets were in the clearout section even though they were only relased a month or so ago. Also the fact no giftcards were being sold was a biy ominous

[_dark_blu]

Originally Posted by loz

BBC NEWS | Business | Zavvi placed into administration

The story is dated 22nd February 2007? Obviously an error.
The wiki page for Zavvi has been updated saying in administration as of December 24th 2008.

[loz]

Originally Posted by _dark_blu

The story is dated 22nd February 2007?

perhaps the BBC could see the writing on the wall even back then

[_dark_blu]

Originally Posted by loz

perhaps the BBC could see the writing on the wall even back then

[_dark_blu]

Originally Posted by C225

Also the fact no giftcards were being sold was a biy ominous

I though the same when our local Zavvi stopped them as of Monday (same day the Clearance Sale started).

[craddock]

Not surprised at all, I believe I read that Zavvi owed Entertainment UK 100 million for stock and that was months ago.

I reckon next will be WHSmiths, Currys digital and Comet.

I had read that Currys were to shut 77 of it stores to try and help it's finiancial situation but I reckon the lot will go, internet electricals are sooo much cheaper.

How Nostradamus of me.

Anyway apparently 10 well known high street chains will go by the end of January according to a web news report I read last week, could be anyone.

[Ian182]

Despite their being no giftcards on sale, I would assume they will honour ones that have already been issued ?

I, like thousands of others, will no doubt have one waiting under the Christmas Tree for me tomorrow morning.

Had a similar situation with Music Zone a couple of years ago and they were honoured, so I hope Zavvi do the same........

Ian.

[nheather]

Whittards and Officers Club just had 11th hour reprieves when buyers were found but I will expect quite a few rationalisations - store closures and job losses.

Cheers,

Nigel

[Foebane]

Never did like Zavvi. Stupid name. And their online DVD prices were EXTORTIONATE, compared to Play.com. And why change from Virgin Megastore to such a stupid name? Did I say the name was stupid?

[moby125]

Richard Branson actually sold Virgin Megastores to a management buyout, hence the name Zavvi. So he has nothing to do with it, now. But his group still own Virgin Mobile, which will also now disappear from the highstreet aswell. As they rent shopfloor space off Zavvi!!

[Beany31]

I knew this was the case, I said this in another thread. Where I live/shop there's a Zavvi and it's not really had any clearout sales apart from the Xbox Arcade going down to as little as £99.. There's also a Whittard's and are they staying open or are they going completely as well? It's ridiculous how many shops are going, high streets are going to be empty in the near future. I agree with Comet could soon be going, but I doubt Currys will, even with their losses announced a couple of months ago.

[martin10]

Just been into my local store to work, Bishopsgate, London

Bought Lego Star Wars and Assasins Creed on PS3 for £15 and £10.00 respectively

But like Woolies felt like a vulture stripping a company of its assets, each to their own !!

[wormvortex]

Only decent Zavvi I've been in is the one in Oxford Street and it was stupidly overpriced except for certain CD's.