A MUSIC and DVD shop on Cheshire Oaks has escaped the axe, after joint administrators closed 22 of its’ sister stores.
Just before Christmas Zavvi, formerly the Virgin Megastore, went into administration.
Administrators kept all the stores open over the holidays, including the premises on Cheshire Oaks Outlet Village.
But last week they announced the immediate closure of 22 Zavvi stores, including ones in Liverpool and Manchester.
The administrators will continue to trade at the remaining 92 UK stores and have announced further reductions off current discounted prices, with 20-50% off across all product lines taking effect on Friday.
The closure of the 22 stores will lead to 178 redundancies.
The administrators are working closely with the Insolvency Service’s Redundancy Payment Office and Job Centre Plus to provide support and advice to all employees made redundant, including a fast-track process for paying redundancy entitlements.
Tom Jack, joint administrator from Ernst & Young, said: “Despite record consumer demand since Christmas it is no longer possible to support continued trading across all of the Zavvi stores.
“Unfortunately the current difficulties faced on the UK high street seem to be discouraging retailers from investing in a significant number of new stores.
“However, we intend to continue to trade the remaining Zavvi portfolio, with a view to selling all or part of the Zavvi business as a going concern.
“So far we have received 60 expressions of interest which we continue to actively pursue.
“We are extremely grateful to the staff and management at all stores and head office for their fantastic support throughout this difficult time.
“We also thank Job Centre Plus and the Redundancy Payments Office for their support in this matter.”
