January 16, 200718 yr Thirty-one Music Zone stores to close 16 January 2007 - 09:35:31 Administrator Deloitte And Touche has announced the closure of 31 Music Zone stores, with 325 redundancies. Music Zone went into administration at the start of January after the Bank of Ireland refused to renew credit facilities in the wake of a difficult Christmas trading period. Bill Dawson and Nick Dargan, from Deloitte’s Reorganisation Services division, were appointed joint Administrators. Music Zone continues to operate from 72 stores across the UK, employing 775 staff and Deloitte says that a number of parties have expressed an interest in the business. Dawson says, “During the first week of trading the administrators spent a considerable amount of time assessing the viability of the business and the difficult decision was taken to close a number of stores. However, we have commenced a marketing strategy to seek a buyer of the business as a going concern and continue to work hard to achieve a positive result for Music Zone.†The stores to close are: Altrincham, Ashton-Under-Lyme, Barnsley, Bolton, Chiswick, Croydon, Cwmbran, Darlington, Dumfries, Dunfermline, Fareham, Glasgow Argyle Street, Glasgow Forge, Glenrothes, Horsham, Hove, Inverness, Leicester, Loughborough, Maidstone, Middlesbrough, Oldham, Plymouth, Romford, Sheffield, Shrewsbury, Stafford, Stockton, Sutton Coldfield, Wakefield, Wolverhampton.
January 16, 200718 yr Fareham!! thats my one :( they closed on monday though and the staff were told that they no longer have jobs!!
January 16, 200718 yr I saw the Wolverhampton one closed in the middle of the day yesterday as I was going down the escalator :( There's still and HMV and Woolies around here though :D And Fopp and still Music Zone back home.
January 16, 200718 yr why close Middlesbrough and Stockton :angry: they're only a few miles apart <_< they could have kept one open
January 20, 200718 yr Author why close Middlesbrough and Stockton :angry: they're only a few miles apart <_< they could have kept one open maybe its all to do with reach and commercial rents. they had one opened to big fan fare in London put it was gona within about a year as rents were just too high and competition too fierce
January 22, 200718 yr why close Middlesbrough and Stockton :angry: they're only a few miles apart <_< they could have kept one open The Middlesbrough branch is only about five doors down from HMV... too much competition?
January 24, 200718 yr Author The Middlesbrough branch is only about five doors down from HMV... too much competition? suppose so, especially since HMV seemed to be aping MZ in past months with loads of offers.
February 10, 200718 yr My local Music Zone has turned into a Fopp, i've never been to a Fopp before, is that a good thing or a bad thing? :unsure:
February 10, 200718 yr The Middlesbrough branch is only about five doors down from HMV... too much competition? and 2 minutes from Virgin Megastores :lol:
February 10, 200718 yr My local Music Zone has turned into a Fopp, i've never been to a Fopp before, is that a good thing or a bad thing? :unsure: It's a great shop! We have one in town.
Create an account or sign in to comment