Ernst & Young sells zavvi stores to HMV
zavvi stores sold to HMV, E&Y still on the search for a buyer for another 68 stores
Administrators from Ernst & Young have sold 14 zavvi stores to HMV,
securing the future of 269 jobs.
The handover, which will see the stores rebranded as HMV, took place last
night.
Although administrators still have 68 stores to sell, joint administrator Tom
Jack was ‘optimistic’ about the future of the stores.
‘We are continuing detailed discussions with a number of interested parties
and are optimistic this could lead to the sale of further stores and retention
of staff at a number of locations throughout the UK and Republic of Ireland,’
said Jack.
DLA Piper advised Ernst & Young on the sale.
Further reading:
Zavvi appoints Ernst & Young
administrators