Zavvi in trouble / closing?

cfbc

TehJumpingJawa wrote: »

Woot! Cheap DVDs & games next year!

Yes, perhaps tehre are, but like others a sadness as another retailer goes under (if the case) and more people out of work, less competition and as such in the long run more firm and perhaps higher prices!!! So, bargains today, higher prices tomorrow so to speak... Watch this space....

hippey

It's a rumour about Zavvi, a number of people are tipping them for failure in the new year, they have been hit big time by the EUK problems.

Some stores have plenty of stock, but some are very quiet.

zenseeker

Zavvi have so far not gone into administration, the rumours seem to be based on a combination of a three week old story about them calling in the administrative team behind the Woolworths liquidation, but this was just as an advisory role in restructuring the business, and the rumour was further fueled by huge whole page ad's promoting a "Clearout Sale" in newspapers yesterday, but this is just a usual January Sales type pitch...again nothing to immediately suggest liquidation.

DCFC79

gazza975526570 wrote: »

What actually happened at Zavvi? Did Virgin sell their music stores to them?

i think someone bought the music store business from virgin and renamed it zavvi,

DCFC79

TehJumpingJawa wrote: »

Woot! Cheap DVDs & games next year!

Dont see how it would be cheap games

DCFC79

brightonman123 wrote: »

they allegedly owe EUK £100m, whose administrators are no doubt wanting payment..

since they owe money to EUK they should pay it, it could no doubt help EUK's positon

biglugs

since they owe money to EUK they should pay it, it could no doubt help EUK's positon

Zavvi owes £105m to EUK which is in administration. Quite rightly the administrators want this money and they want it now. So Zavvi have no option other than to try and raise it as fast as possible - hence the incredible giveaway sale they have been having already. XBox 360s reduced to less than £100, accessories at 33% less than everywhere else etc.
The next couple of weeks is likely to see a continuation of this, with lots of great bargains. Unfortunately because of the EUK problems these deals won't be available online, so you'll have to get out the old hat scarf and gloves and get down the shops!

northerngeezer

Breaking news on Sky...

Zavvi goes into administration

MoneySavingNovice

http://news.bbc.co.uk/1/hi/business/6386153.stm

catf

Yep at 10am this morning Zavvi went into administration, unfortunatly it's not just going to be Zavvi staff out of jobs but also all the staff that work on the consession stands for Virgin who will be out of jobs. My hubby works for Virgin Media in the stand alone stores as says they are being told it could be as soon as 3 weeks when it all shuts down. Its shut a shame that on Christmas Eve all these have found out that they will be out of a job.