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Last Updated: Monday, 5 February 2007, 17:42 GMT
Music Zone sells stores to Fopp
Music Zone store
Music Zone has struggled against online competition
All of the 67 stores owned by the CD and DVD retailer Music Zone have been bought by a rival music store.

Administrator Deloitte announced that the stores, head office and warehouse in Stockport, and the warehouse in Denton had been sold to Fopp Limited.

The Greater Manchester based Music Zone went into administration on 3 January after struggling against competition from online retailers and supermarkets.

The company employs about 800 people in stores across the country.

Deloitte said the deal included the 67 stores which had been open at the time of the announcement on January.

Bill Dawson, Partner at Deloitte, said: "We are pleased with the disposal to Fopp, and wish them every success in the future.

"This represents a much better outcome for creditors and other stakeholders than a piece-meal disposal."

The chain was founded by Russ Grainger from a market stall in Longsight, Manchester, in 1984.




SEE ALSO
Music Zone workers to lose jobs
25 Jan 07 |  Manchester
Music Zone closes Scottish stores
16 Jan 07 |  Scotland
Music Zone calls administrator in
03 Jan 07 |  Business
Music Zone buying 41 MVC outlets
04 Jan 06 |  Business

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