Page last updated at 10:23 GMT, Wednesday, 14 January 2009

Zavvi to close another 18 stores

Zavvi shop in Piccadilly, London
Zavvi's store in Piccadilly is included in the latest round of closures

The administrators of music, games and DVD chain Zavvi have announced it is closing a further 18 stores with the loss of 353 jobs.

The group's flagship store in Piccadilly in London, which employs 110 people, is one of the shops to go.

The remaining 74 stores throughout the UK will remain open. The administrator is still hoping to sell the business as a going concern.

The troubled chain has been badly affected by the demise of Woolworths.

"Despite having received in excess of 70 expressions of interest, we have not received any offers for the store portfolio as a whole.

STORE CLOSURES AND JOB LOSSES
Basingstoke, 16
Belfast (Castlecourt), 22
Cambridge, 10
Cheshire Oaks (Outlet Village), 11
Crawley, 18
Londonderry, 15
Edinburgh (Gyle), 13
Gateshead, 12
Glasgow (Argyle St), 18
Grimsby, 9
Hull, 19
Newry, 11
Newtownabbey, 11
Piccadilly (Tower), 110
Romford, 13
Stevenage, 10
Watford, 24
Woking, 11

"Consequently, with reducing stock levels, we have had to manage the cost base of the business and close a further 18 stores," said Tom Jack at administrator Ernst & Young.

Last week, the administrator closed 22 Zavvi stores.

Zavvi's main supplier was Woolworths' unit Entertainment UK (EUK), which went into administration in late November.

Since then, Zavvi has had difficulties in sourcing stock and has been forced to enter new trading arrangements.

The Zavvi group is the UK's largest independent entertainment retailer.

It was formed after a management buy-out of the Virgin Megastore division of the Virgin Group in September 2007.



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