Posted January 5, 200718 yr CD and DVD retailer Music Zone has gone into administration. The chain, which has 104 stores across the UK and 1,100 staff, had been struggling against competition from online retailers and the supermarkets. Music Zone said it had no alternative to administration after its banks decided to recover debts without notice and with immediate effect. Administrators said they would continue trading at the firm while seeking a buyer to run it as a going concern. Music Zone was bought in a £12m management buy-out in 2005, backed by private equity firm Lloyds Development Capital. A company spokesman said the firm was not alone in experiencing "challenging trading conditions" on the High Street. He added that pre-Christmas spending was also poorer than expected. Stockport-based Music Zone said in January last year that it was "optimistic about future growth". It made the comments after it bought 43 former stores from the MVC chain, which had itself gone into administration. Music Zone was founded by Russ Grainger from a market stall in Longsight, Manchester, in 1984. BBC
January 5, 200718 yr Oh, :o I didn't see that coming :o Its quite cheap in there though it might help if you were able to buy online as shops like HMV and Virgin all do it!! :wacko: :wacko:
January 6, 200718 yr I didn't see it coming either. They're still a fairly newish chain aren't they? I don't recall seeing any around pre-2000.
January 6, 200718 yr I see many problems with high-street chains with competition from on-line and superstores.
January 6, 200718 yr Why don't they have an online shop? That's the one thing they can do that will garauntee a sales increase :blink:
January 6, 200718 yr Why don't they have an online shop? That's the one thing they can do that will garauntee a sales increase :blink: i've wondered that before too :huh:
January 7, 200718 yr it really is a shame, i always got alot of cheap cds over the past couple of years :( and also ive always wondered why theyve never had an online store.
January 9, 200718 yr Music Zone advertised for sale 09 January 2007 - 11:03:30 Administrators Deloitte And Touche have placed an advert in the Financial Times today, offering the Music Zone business for sale. The business includes a 30,000 square foot leasehold head office in Stockport, a 56,000 leasehold distribution centre in Denton, Greater Manchester, 104 leasehold stores, fixtures and fittings, retail stock and intellectual property. Interested parties are invited to contact Matt Widdall or Sam Woodward at Deloitte And Touche. Music Zone went into administration last Wednesday (January 3) after the Bank Of Ireland refused to renew credit facilities in the wake of a difficult Christmas trading period. The company is believed to owe payments for November and December to most of its major suppliers, valued at around £28m to £30m. All shops remain open and Deloitte is trying to sell the business as a going concern. Music week
January 9, 200718 yr it really is a shame, i always got alot of cheap cds over the past couple of years :( and also ive always wondered why theyve never had an online store. They did in the past it got pulled down
January 9, 200718 yr I have never been into one of their stores, mainly because I've never seen one!! Love, Kirsty xx
January 13, 200718 yr it's a pretty $h!t shop tbh. They sell like 1 copy of singles that are about #45 in the chart and then have loads of the #1 and that's it :manson: It's a very messy store and yeh I have bought some great CDs from there in the past, very cheaply may I add but it's not exactly up to the standards of HMV & Virgin. -_- Edited January 13, 200718 yr by Graham
January 13, 200718 yr this is the only music shop in our town :( They are dying :( Our Woolworths has closed this week and Music Zone is virtually right next door to it too :o We still have HMV & Virgin though.
January 13, 200718 yr we will only have a Woolworths and WHSmiths to get music from if that goes.....but theres rumours we will be getting A HMV soon :funky:
January 13, 200718 yr WHSmith is c**p though. They like everywhere else stopped selling singles and now have WAY expensive albums - you can get them all for £2 or so cheaper elsewhere. -_- It's really sad to see how online shopping have really effected retailers. They'll make it a ghost town sooon here. :(
January 14, 200718 yr Author I didn't see it coming either. They're still a fairly newish chain aren't they? I don't recall seeing any around pre-2000. think i read that they have been going since about 1982 or 1984, started from a market stall in Manchester.
January 14, 200718 yr Author WHSmith is c**p though. They like everywhere else stopped selling singles and now have WAY expensive albums - you can get them all for £2 or so cheaper elsewhere. -_- surely noone goes to WH Smiths for albums straight off??? i suppose they are only there as a sideline just in case you've come in for the radio times and spot an Il Divo album.
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