BusinessBusiness RecoveryTwo-thirds of Music Zone stores sold by Deloitte

Two-thirds of Music Zone stores sold by Deloitte

Stores go to competitor Fopp

Deloitte, the administrator for retailer
Music Zone, has sold 67 of the
company’s 100 stores to competitor Fopp.

The cost of the sale was not disclosed.

Music Zone went into administration in early January after struggling against
competition from the internet and supermarkets.

On 25 January, Deloitte said a buyer hadn’t been found and the company would
close its shops and lay off its 800 staff.

‘This represents a much better outcome for creditors and other stakeholders
than a piece-meal disposal,’ said
Bill
Dawson
, a partner at Deloitte.

Further reading:

End of the track for Music Zone

31 Music Zone retail outlets shut

Music Zone and Greeting Card Group enter administration

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor