Zavvi heads into administration

Posted by David Walker on Wed 24 Dec 2008

But still re-opening on Boxing Day

Well, last week we reported how Zavvi was leading the charge on cheap consoles over the Christmas. Sadly, it wasn't enough to keep them from going into administration.

The demise of the former Virgin Megastores is a knock-on effect from the Woolworths crash, Zavvi's main supplier of goods was Entertainment UK (EUK), owned by Woolies and following it into administration back in November. If you've bought off them over the Christmas, don't despair, stores will remain open for trade (including exchanges and refunds) into the new year and beyond. So it's still not too late for that cheap Xbox 360.

Indeed, the administrators hope to sell either the entire chain or part of it, which should be some comfort to the 3,400 people currently employed by Zavvi.

Link: Zavvi (via BBC)

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