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Last Updated: Wednesday, 21 December 2005, 17:31 GMT
MVC chain calls in administrators
DVDs
Fake DVDs and CDs are partly to blame for the firm's troubles
Retailer MVC has called in the administrators in the middle of one of the toughest festive trading seasons.

Administrators Kroll said the firm had suffered "changing market dynamics", namely stiff competition from supermarket and increased pirating.

CD and DVD seller MVC, which was spun out of Woolworths, will keep trading over Christmas, Kroll said.

Woolworths sold the MVC chain to a group of retail investors for 5.5m ($9.68m) in August.

"We're not planning to make any redundancies... and are reviewing options for the business," a spokesman for Kroll said.

MVC has at least 700 staff at about 70 stores and annual turnover of more than 100m ($176m).


SEE ALSO:
Pirate DVDs 'support local crime'
13 Dec 05 |  Scotland
Woolworths sells MVC music chain
01 Aug 05 |  Business
Apax pulls plug on Woolworths bid
14 Apr 05 |  Business
Woolworths warns of tough trading
23 Mar 05 |  Business
Festive sales flat at Woolworths
04 Jan 05 |  Business


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