Richard Branson sells Virgin Megastores UK

Monday, 17 September 2007 17:37

 

Source: RTE

 

Richard Branson has sold his Virgin Megastores record shops in the UK and

Ireland to a management buy-out team.

 

The British tycoon said high street music retailing was facing a stiff

challenge from supermarket and online sales.

Virgin Group offloaded Virgin Megastores, the brand which launched his

Virgin empire, for an undisclosed fee.

 

The deal creates the UK and Ireland's largest independent entertainment

retailer. The 125 stores will now be re-branded as Zavvi after Zavvi

Entertainment Group.

 

'I opened my first Virgin Megastore when I was 16, 30 years ago, so it's a

slightly sad day to be selling them today,' Branson said.

 

He said Virgin Group had chosen to move away from retailing into licensing

music.

 

What? That is shocking and very sad, I mean unless he was actually making a big loss I don't think he should've sold it. It will always be associated with him anyway. And I can't believe it will be re-named to Zavvi, I mean ffs. :rolleyes:

I quite agree - very sad. Such a shame :(

Zavvi just isn't gonna stick. :(

The flagship Virgin Megastore in my city recently closed... don't expect much of a future for these types of stores.

No big loss

 

Virgin prices were on the whole absolutely outrageous compared with competitors even made HMV seem like a discount store

 

 

Yeah I agree with Craig.... Virgin was always a last resort for me, WAY too expensive thankyou please. Seeing "Zavvi" stores everywhere will be weird though :lol:

"Zavvi Megastores"?????? :rofl: :rofl: :rofl:

 

Is this some kind of joke??? Please someone tell me this is a joke..... :lol: :lol:

 

I also am with Craig on this, I wont miss the "Zavvi" megastores if they did close down, I get pretty much all my music and DVDs online now these days - Play, Amazon, CD Wow, etc.... The only time I go to a record shop to buy things is the specialist music outlets in Camden, I dont mind paying those guys a bit extra because they're struggling little independent stores who sell stuff you cant really get anywhere else. I have MAJOR issues with high street retailers who charge rip-off prices.....

I don't think Virgin are any more of a rip off than HMV are. Last time I was in HMV 16 of their top 40 albums were priced at £12.95 or more. Ridiculous.

I don't think Virgin are any more of a rip off than HMV are. Last time I was in HMV 16 of their top 40 albums were priced at £12.95 or more. Ridiculous.

 

True, but not all of them. Some are under £10...and that's not just first week releases.

What? That is shocking and very sad, I mean unless he was actually making a big loss I don't think he should've sold it. It will always be associated with him anyway.

 

but thats branson, most of virgin he doesnt own he ownly owns the name which is licenced out to companies who have bought the offshoots or gone into jv's with him (virgin radio - smg radio holdings / virgin trains - stagecoach / virgin media - ntl). he does this all the time but obv he is the brand and so maybe the management who have bought the stores wanna get away from mr wacky beardy and all his stunt to get a more cool brand

 

however zavvi is not it.

 

 

And I can't believe it will be re-named to Zavvi, I mean ffs. :rolleyes:

 

yeah why cant it be called our price instead. well seeing as everything is like £3 for 20 and cheaper than this store etc etc

 

Zavvi is so totally $h!t!!!

 

this is the $h!t malay car the proton savvy and its not a good thing to be reminded of this :lol:

 

http://www.brisbaneproton.com.au/images/Proton/Proton_Images/SAVVY1.jpg

:manson:! Virgin is a good music store, imo - their prices are good and they have a good range of music and DVDs. Zavvi? FFS! :rolleyes:

I get all my music from Virgin :| Nooo.

I don't think Virgin are any more of a rip off than HMV are. Last time I was in HMV 16 of their top 40 albums were priced at £12.95 or more. Ridiculous.

 

Perhaps for new albums but when it comes to DVD's, well not brand new ones, HMV or miles cheaper. They have sooooooo many DVD's for like £2.99 - a huge collections of brilliant DVD's, while with Virgin it is rarely like that and is always silly deals like 5 or £40 or whatever. I go into a shop not intending on spending £40, whilst with HMV you can get DVD's individually cheap alot more so than Virigin.