BusinessBusiness Recovery31 Music Zone retail outlets shut

31 Music Zone retail outlets shut

Struggling Music Zone chain has 31 stores shut by administrators from Deloitte

Administrators from Deloitte have closed 31 of 103
Music Zone stores,
with 325 staff made redundant.

‘During the first week of trading the administrators spent a considerable
amount of time assessing the viability of the business and the difficult
decision was taken to close a number of stores. However, we have commenced a
marketing strategy to seek a buyer of the business as a going concern and
continue to work hard to achieve a positive result for Music Zone,’ said
Deloitte
partner and joint administrator Bill Dawson.

The music chain was
put
into administration
on 3 January.

It continues to operate from 72 stores across the UK, employing 775 staff,
and a number of parties have expressed an interest in the business.

Further reading:

Music
Zone and Greeting Card Group enter administration

Christmas
excess boosts insolvencies

£10m
sell-off on the table for Little Chef

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