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Reading misses first Zavvi cuts
By Paul RobinsJanuary 09, 2009
Almost 180 staff at troubled music retailer Zavvi lost their jobs yesterday after administrators closed 22 stores – but not Reading.
Zavvi – the former Virgin Megastore chain – fell into administration on Christmas Eve after it was crippled by the collapse of Woolworths’ Entertainment UK wholesaling division. EUK was the company’s main supplier and its demise left Zavvi unable to take customer orders.
Zavvi’s remaining outlets, including the Broad Street Mall store, are now set to slash the price of their products by a further 20 per cent to 50 per cent from today.
Mr Jack said administrators would continue to attempt to sell all or part of the business as a going concern.
“So far we have received 60 expressions of interest, which we continue to actively pursue,” he said.
“We are extremely grateful to the staff and management at all stores and the head office for their fantastic support throughout this difficult time.”
Stores set to close include Liverpool, Chatham, Swindon, Ashford, York, Manchester, Braintree and Newcastle.
