Zavvi

F-Blocker

They announced a load of store closures this morning - apparently it was with immediate effect!
The Piccadilly Circus store has already shut down.

Spankie

Yep heard that. They only just bought it from Virgin Megastores in 2007 so that went well then!!!

T

They're already in administration and closed a chunk of stores down already. A real shame as the actual business was profitable they just had a massive debt called in when Woolworths distribution arm went under and didn't have teh cashflow to cover it.

BDL

All to do with Woolworths going Pete Tong (Their Entertainment UK division supplied ZAVVI with all their material!)and some very bad decisions by people that should have known better!

SE10Addick

crap branding wouldnt have helped though...

BigRedEvil

Terrible shop.

Everything is overpriced. Even with their discounts I could find it cheaper elsewhere.

WhenIwasLittleBoy

Just been to the one in Croydon, and picked up bargins for the kids

adamtheaddick

Wollies called in the debt with Zavi and they could not pay up, so went tits up. got my ps3 from there last year so just hope nowt goes wrong with it.

supaclive

I'm in "their industry" - they made decent money and were profitable in 2007 but got greedy and moved their buying and distribution into EUK as they got bigger discounts from suppliers like me by doing so - unfortunately EUK was a crock of shit and bad buying decision after bad buying decision, they got screwed.

Caused by greed and wanting bigger margins and moving to a distributor who didn't understand their market positioning.

SE10Addick

Wasnt it a management buy out from the old Virgin music stores?

T

It was indeed a managment buy out.

The change of Distributors happened when they were still Virgin and continued when it was Zavvi due to the fact that EUK offered them massively favourable credit terms 90 days rather than the 30 days standard... although when 90 days or £106million is called in you're going to struggle as a new business.

bingaddick

So it had nothing to do with the re-branding from Virgin to a stupid name?

Leroy Ambrose

Oh no - Chavvi's gone under! Where oh where will I buy my £16 CDs and full priced games from now! Hang on - maybe I'll try this new-fangled thing called 'Teh Internetz' - apparently (and I'm not sure if this is true or not, someone more knowledgeable might be able to help me) you can buy CDs, Games and DVDs about 30% cheaper online than you can in a shop where you have to queue up listening to bollocks that sounds like someone chucking a shopping trolley down a flight of stairs with rudeboys talking loudly over the top, to be served by someone with a stupid haircut and a superior attitude despite being paid 5 quid an hour and knowing precisely f*** all about music, games or films.

My heart bleeds.

buckshee

[cite]Posted By: WhenIwasLittleBoy[/cite]Just been to the one in Croydon, and picked up bargins for the kids

oh , might pop into bromley and see if they have any cheap blu rays

Cardinal Sin

The sooner they close down the better. They refused to honour vouchers after re-opening after Christmas. If I had been given any I would have helped myself and walked out. Cheeky bastards!

Chirpy Red

Zavvi? How much are Man City bidding for him then?

Henry Irving

[cite]Posted By: buckshee[/cite]

[cite]Posted By: WhenIwasLittleBoy[/cite]Just been to the one in Croydon, and picked up bargins for the kids

oh , might pop into bromley and see if they have any cheap blu rays

don't know about blu rays but had few bargains after chrimbo

F-Blocker

I was in the Picadilly store on Monday having a browse in my lunch hour & there were some blu-rays reduced - didn't take much notice though as I don't have a player!