Former Virgin Megastore chain appoints a liquidator.

Run_to_da_hills

Jobs fear as 11 chains of Zavvi (former Virgin Megastore) appoints a liquidator, HMV has shown an interest in 5 of the busier stores. TBH I couldn't see any record / dvd store surviving in this day and age with instant legalized streaming along with prohibited overheads.

http://www.independent.ie/national-news/job-fears-as-liquidator-appointed-to-music-chain-1588544.html

L1011

HMV are, I believe, in an OK state. They've got their own label business (mostly classical music); a large bookstore business (Waterstones) and have collected some of the UKs profitable/best sited stores through vulturing on the bankrupcy of Fopp - they could easily pick up even more if Zavvi hit the wall now.

Also, one of their bigger competitors for music/small hardware is going in a weeks time in the form of Woolworths..

Nolanger

Who cares? Zavvi are rubbish - very poor selection of stuff - nothing you can't get in other shops.

b.c

also they are not accepting gift vouchers as I found out when I went to spend mine the other day, still take your money though:mad:

RaverRo808

b.c wrote: »

also they are not accepting gift vouchers as I found out when I went to spend mine the other day, still take your money though:mad:

Thats against the law,gift vouchers are as good as money,dont accept that gick

ironclaw

I heard Zavvi Ireland are ok. As in they are slightly seperate entitiy to the UK operation.

I've found in their Dundrum store if you buy in the Dance section they CD's are €3 - 5 cheaper than the same CD in the Chart section.

And they got rid of the Vinyl section... :mad:

porn_star

RaverRo808 wrote: »

Thats against the law,gift vouchers are as good as money,dont accept that gick

It's not illegal. Essentially when you buy a gift card, you become a creditor to the company, now they're in liquidation you have to join the list of those creditors to get your money back.

nah_biy!

Nolanger wrote: »

Who cares? Zavvi are rubbish - very poor selection of stuff - nothing you can't get in other shops.

Good of you to be so considerate of the hundreds of full time members of staff who'll lose their jobs eh? Most of the part timers are students so they won't be quite as affected.

RaverRo808 wrote: »

Thats against the law,gift vouchers are as good as money,dont accept that gick

Actually no, its entirely legal. With vouchers you become a creditor. If you had the patience, in time after the court decides a percentage to be paid out to creditors (hauliers, lawyers, suppliers etc.) you may receive some token gesture. It will take a) about 2 years b) be around 7.5% of the purchase. It's entirely legal as well as there's no legislation covering vouchers. Much like the expiry dates, it's a case of tough.

L1011

porn_star wrote: »

It's not illegal. Essentially when you buy a gift card, you become a creditor to the company, now they're in liquidation you have to join the list of those creditors to get your money back.

Except last time I checked, Zavvi Ireland was NOT in liquidation.

Neither is the UK company, its in administration, but the same still applies. The Irish firm however is still running 'as normal' officially. On the ground I've not even seen a store since it happened, but I take it they're not running as if nothing has changed.

porn_star

MYOB wrote: »

Except last time I checked, Zavvi Ireland was NOT in liquidation.

Eh, it is indeed in provisional liquidation since last Tuesday. Same thing as UK being in administration, just a different term.

L1011

porn_star wrote: »

Eh, it is indeed in provisional liquidation since last Tuesday. Same thing as UK being in administration, just a different term.

They managed to keep that out of the media fairly well, then. The UK chain went in to admin a week before that. No Irish sites have anything updated beyond the original statement that the Irish division wasn't affected but a quick Google finds that theres a fair few industry sites in the US that do have it.

porn_star

I don't think it's been kept out of the media, there's been a good few articles online about it, aswell as being mentioned in certain papers concerning a possibly hmv takeover of some of the stores. The stores have plenty of signs up in their windows and around store, explaining the situation to people. The zavvi.ie website always redirected people to the co.uk one, so that's possibly why there's been no update there, there's no official irish site for them.

b.c

Spent an hour trawling through all the tat in the shop only to be told they are gone into liquidation and shown a letter stating this taped to the counter at the till:mad: no notices anywhere else:mad: stung:mad: