Zavvi in administration

Banned
Just heard that Zavvi is gone into administration, wonder who'll be next.

Best use any vouchers you get from them over crimbo quick

More info here news.bbc.co.uk/2/h…stm

93 Comments

Right....

If true, that can't be good.

True.

Original Poster Banned

It was anounced on sky news just few minutes ago.

Doesn't seem like anywhere is safe from crunch

Feel sorry for the staff but won't miss the shops.........another overpiced store for many things.

i thought zavvi was the owned by richard branson?? he not skint surely

DIVA1977;3851424

i thought zavvi was the owned by richard branson?? he not skint surely



The management bought the UK part of Virgin Megastores from Richard Branson.

Original Poster Banned

But was good to have Zavvi so that it created a bit of competition for prices with HMV.

Terrible for the staff but can't see Zavvi having to do stock sale like Woolies

funny how its all these over priced shops that are going under....they never learn do they

SuperEd

store wont be missed but feel sorry for the staff

Paddy Charlie;3851439

But was good to have Zavvi so that it created a bit of competition for … But was good to have Zavvi so that it created a bit of competition for prices with HMV.Terrible for the staff but can't see Zavvi having to do stock sale like Woolies


Your right they wont as the stock is probably owned by Entertainment UK which is part of Woolworths and the main reason Zavvi is in adminstration as the administrators of Woolworths said yesterday on the news that Zavvi was one of its biggest debtors and they wanted their money...

So they have obviously called it in by the looks of it

of all days to say the shops going in to admin branson waht a tool

Original Poster Banned

Branson sold off the Virgin Megastores to Zavvi Entertainment group so don't think he has anything to do with it

The high street is falling to bits, it is not that these shops are overpriced it is the fact they have to make money to pay rent, bills, staff etc... A high street rent is much more than renting a big warehouse that you can trade online from, then a high street shop will need better lighting and more staff, this could be the end of the high street for a lot of companies, only clothing needs trying on etc and needs to be seen before purchase.
The days of buying CD's, DVD's, and the like on the high street are coming to an end, book companies will be next I reckon.

My younger sisters other half is a deputy manager in a Zavvi store... this is shocking news to come on Christmas eve

Branson doesn't own it anymore.. Simon Douglas and Steve Peckham are CEO.

It has only gone into administration, I would be surprised if a buyer was not found for Zavvi; unlike Woolworths it is not a bad business.

DIVA1977;3851424

i thought zavvi was the owned by richard branson?? he not skint surely



and no doubt he will buy it back at a % of what he sold it for and call it virgin again... now that would be a personal hotdeal for him :-D

come on richard save the jobs and give us back virginmegastore as only having HMV on the highstreet would be grim

and to the managers that had zavvi if you try and sell Halo 3 for £60 quid what do you expect ...Grrrr

kingkenny;3851516

of all days to say the shops going in to administration Branson what a … of all days to say the shops going in to administration Branson what a tool



Fixed for **** spelling and some grammar ^^^^^ :whistling: :lazy:

Secondly, it's got knack all to do with Branson. He shut Virgin down as a shop brand because he felt there was no future in shop sales of records and films (which of course is why he's loaded and we're not - he saw this coming).

There was a management buy-out. I believe that Virgin underwrote Zavvi's debts as a favour until some time this month (I thought it was the 26th or 27th but I could be wrong).

So actually, the tool isn't Branson. He was the one with the foresight of this. It was the management buy-out people who are the tools in all of this.

God aweful chain with overpriced items and staff who couldn't arrange a p1ss up in a brewery (at least in the stores I went to). Won't be sorry to see it go and won't be missed as I never shopped there. Shame for the staff but it's not like they are going to be out of a job over xmas & new year like the Woolies staff.

Original Poster Banned

Never know Branson might buy it back for a reduced price and try turn it around since he has experience with the store and the money to do it

Zavvi owe Woolworths £103 million.
This was expected to happen when Woolworths called the debt in.

newsgroupmonkey;3851568

Fixed for **** spelling and some grammar ^^^^^ :whistling: … Fixed for **** spelling and some grammar ^^^^^ :whistling: :lazy:Secondly, it's got knack all to do with Branson. He shut Virgin down as a shop brand because he felt there was no future in shop sales of records and films (which of course is why he's loaded and we're not - he saw this coming).



You hit the nail on the head with that comment. Shop sales of media is becoming extinct. I wouldn't be surprised if HMV shut all their shops and focused on their web site instead as that is far far far more better than the stores.

I think this post is going to break the Hotukdeals record for the number of silly people who cant be bothered to check if a post already exists before just sticking it on again......

Think we are at 6 of this so far eh

BRIEF-Zavvi goes into administration - Ernst & Young




LONDON, Dec 24 (Reuters) - * Zavvi goes into administration says
administrator Ernst & Young.
* Ernst & Young say will continue to trade Zavvi with view to selling
business as going concern.

i wonder if the staff knew yesterday.......I went in for an xbox and they really werent interested at all and all of em looked miserable....or is that just the norm?

jase.2;3851612

I think this post is going to break the Hotukdeals record for the number … I think this post is going to break the Hotukdeals record for the number of silly people who cant be bothered to check if a post already exists before just sticking it on again......Think we are at 6 of this so far eh



Then again most people aren't sad enough to worry about such things, unlike you :roll:

Original Poster Banned

Mr-Smooth;3851606

You hit the nail on the head with that comment. Shop sales of media is … You hit the nail on the head with that comment. Shop sales of media is becoming extinct. I wouldn't be surprised if HMV shut all their shops and focused on their web site instead as that is far far far more better than the stores.



If Zavvi was to close completely I'd say HMV would be fine as they would be only presense on high street so would take over Zavvi's(few) customers

Mr-Smooth;3851632

Then again most people aren't sad enough to worry about such things, … Then again most people aren't sad enough to worry about such things, unlike you :roll:


so people like you would rather the site filled up with various versions of the same posts that you had to pick your way thru to find ones that wernt duplicates !!

Think you will find that most members would rather people checked if something had been posted before just sticking it on again

Paddy Charlie;3851637

If Zavvi was to close completely I'd say HMV would be fine as they would … If Zavvi was to close completely I'd say HMV would be fine as they would be only presense on high street so would take over Zavvi's(few) customers



Perhaps, but it is far more profitable for them to operate online only. Again, with HMV I very rarely buy instore but I do buy a lot on the site as it's cheaper, and that's what it is all about at the end of the day.

Zavvi was a managment buy out from virgin megastores, though it was entirely funded based on debt. Let's hope Richard Branson helps them out and we see Virgin Megastores back on the high streets and in the malls. Thats 3 stores in less than a day with both Whittards and The Officers Club going into administraion. Lots of stores rely on debt to deal with the cashflow and Xmas and January sales to deliver the profits, however this model simply does not work in the current climate. The group that owns Past Times has bought out Whittards so hopefully some of the jobs might be saved.

supermod

Just a quick request - I've removed about 15 duplicates for this in last 30 minutes - if you see any more could you please spam them - Thanks, very grateful :santa:

jase.2;3851654

so people like you would rather the site filled up with various versions … so people like you would rather the site filled up with various versions of the same posts that you had to pick your way thru to find ones that wernt duplicates !!Think you will find that most members would rather people checked if something had been posted before just sticking it on again



Most people don't have time to trawl through tons of posts, and certainly don't appreciate patronising squirts like yourself posting the comments you did. Maybe you should get out more....

Aren't HMV/Waterstones in a bit of bother?

sigma;3851689

Just a quick request - I've removed about 15 duplicates for this in last … Just a quick request - I've removed about 15 duplicates for this in last 30 minutes - if you see any more could you please spam them - Thanks, very grateful :santa:




Is there a delay between posts being done and them showing in a search?

Mr-Smooth;3851693

Most people don't have time to trawl through tons of posts, and certainly … Most people don't have time to trawl through tons of posts, and certainly don't appreciate patronising squirts like yourself posting the comments you did. Maybe you should get out more....


If you dont have time to check if a thread exists you shouldnt post then and im sure the moderators will agree with me!

IWannaBeAdored;3851705

Aren't HMV/Waterstones in a bit of bother?



Half the High Street's in a bit of bother!

IWannaBeAdored;3851705

Aren't HMV/Waterstones in a bit of bother?


HMV made a trading loss and Waterstones haven't done very well this Christmas.
I am not aware that they are in money difficulties though.

warmapplepie;3851729

HMV made a trading loss and Waterstones haven't done very well this … HMV made a trading loss and Waterstones haven't done very well this Christmas.I am not aware that they are in money difficulties though.



:thinking: but the xmas pays the shop rent for the next year.

if xmas has been bad then to have to last another year till next xmas money. ( and next xmas might be just like this one ) then it will be really rough for the highstreet.
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