Zavvi placed into administration

Gilly · 24 Dec 2008 at 11:20

paradigm said:
Why? Because he pointed out that you are a noob?

Exactly that

Rameses · 24 Dec 2008 at 11:21

Very sad to see, perhaps this is why Richard Branson sold out when he did. Any recall how much the management paid?

I'd bet they took their fare share in bonuses before it went bust too!

In my opinion this is what all CEO's etc are doing when a business starts to fall, pay out to themselves and run away.

clv101 · 24 Dec 2008 at 11:21

Maybe Richard Brandson saw the writing on the wall last year and got shot of the business?

Booner! · 24 Dec 2008 at 11:23

Cookie-Monster said:
would have thought de la rue could be a good option with so many governments 'printing' their way out of trouble.

Sankari · 24 Dec 2008 at 11:23

clv101 said:
Can't really belittle Carrotco like that. Yes Walmart are number one, but Carrotco are world number four and growing faster than Walmart.

Carrotco has a net income of £2.13bn compared to Walmart's $12.73 (£8.66bn). No one's about to be snapped!

You've just demonstrated that Walmart's income is about four times larger. That's a substantial difference by anyone's standards.

Carrot, tbh. Snapping isn't on the menu right now, but it's early days yet.

Hxc · 24 Dec 2008 at 11:24

Brandson is probably quite pleased right now.

Stolly · 24 Dec 2008 at 11:24

Kemik said:
Good luck with that, they're a limited liability partnership.

Thanks for the finanical advice, but i was of course joking. You must be an accountant, or perhaps a tax inspector.

Le_Petit_Lapin · 24 Dec 2008 at 11:25

Whens the sale?

clv101 · 24 Dec 2008 at 11:25

Branson sells Virgin music stores
Monday, 17 September 2007, 10:53 GMT 11:53 UK

Virgin will become Zavvi in November

Sir Richard Branson has sold his UK chain of Virgin record stores to a group of senior staff at the business.

The deal, whose value has not been disclosed, will see Virgin's 125 UK and Irish Megastores rebranded as Zavvi.

The business will continue to be run by the current management team headed by managing director Simon Douglas.

High Street music retailers have been fighting for their survival as CD sales have been dramatically supplanted by digital music downloads.

...

http://news.bbc.co.uk/1/hi/business/6998606.stm

merlin · 24 Dec 2008 at 11:26

RB only got £1 for the business anyway didn't he?

V4NT0M · 24 Dec 2008 at 11:27

Gilly said:
I doubt Tesco will be able to touch Asda.

They don't have to touch them, little confused exactly what you mean by this...

Gilly · 24 Dec 2008 at 11:33

Skyfall said:
They don't have to touch them, little confused exactly what you mean by this...

Everyone else got it. What exactly don't you get?

Sawell · 24 Dec 2008 at 11:42

Gilly said:
Everyone else got it. What exactly don't you get?

No, I didn't get it either.

The statement you made was pretty out of context and didn't really make a whole lot of sense, Tesco wouldn't need to 'touch' Asda. They have the UK market, and that's their main market. The fact Asda has Walmat behind it means little to the UK, and if anything only draws custom to Tesco. Walmart could drill money into Asda, but it doesn't really buy custom at that level. Their only option has been price wars, and Tesco still hold the market regardless.

Le_Petit_Lapin · 24 Dec 2008 at 11:44

Hmm, who else reckons that they could have gone into administration at the beginning of the month, but didn't so they could get their Christmas sales in, and also gift vouchers. To take that further, how many people reckon that they also wont take gift vouchers in the upcoming final sale?

Can see a few companies pulling a similar move over the next week.

rlm · 24 Dec 2008 at 11:45

Gaijin said:
Thing is, certainly up until the point I left, Entertainment UK were/are supplying Tesco as well.

Tesco now use their own supplier for Cds/DVDs and games, they bought a company that specialised in this earlier in the year so they could do it all in house so they weren't effected by the Woolworths death.

Tefal · 24 Dec 2008 at 11:47

Booner! said:
Wtf? Story dates: Page last updated at 12:09 GMT, Thursday, 22 February 2007

Page last updated at 11:14 GMT, Wednesday, 24 December 2008

Steve2000 · 24 Dec 2008 at 11:50

Glad to see the back of them to be honest. Far too overpriced. I remember years ago HMV used to be relatively cheap, since there was no internet shopping back then. Then Virgin mega came, they were just an expensive version of HMV. Then it turned into Zavvi, and still remained a more expensive version of HMV.

I think the rubbish name put me off as well.

Participant · 24 Dec 2008 at 11:51

Stolly said:
Thanks for the finanical advice, but i was of course joking. You must be an accountant, or perhaps a tax inspector.

Of course you were...

Gaijin · 24 Dec 2008 at 11:52

rlm said:
Tesco now use their own supplier for Cds/DVDs and games, they bought a company that specialised in this earlier in the year so they could do it all in house so they weren't effected by the Woolworths death.

Ah I see, I left 2-3 years ago so that explains it.

stumpy187 · 24 Dec 2008 at 11:53

Steve2000 said:
Glad to see the back of them to be honest. Far too overpriced. I remember years ago HMV used to be relatively cheap, since there was no internet shopping back then. Then Virgin mega came, they were just an expensive version of HMV. Then it turned into Zavvi, and still remained a more expensive version of HMV.

I think the rubbish name put me off as well.

I was forever getting mixed up in what shop i was in as there both black inside and have similar deals on the dvd's at the entrance (3 for £20) etc
Box sets where stupidly priced in there that it wasn't even worth looking most of the time. £60 when its £20-30 online isn't gunna make me buy