Zavvi placed into administration

TomWilko said:
When I was in town on Saturday (Nottingham) the difference between HMW and Zavvi was quite clear to see. HMW on the one hand had queues the length of the store almost, whereas Zavvi had next to know queues. I know it's difficult to make an objective view from a snapshot at one particular time, but coincidence with this story?
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We don't have a zavvi here but HMV had atleast 10 people in every row just trying to move and a queue that was circling out the designated area and into some of the shopping area
 
Gaijin said:
Ah I see, I left 2-3 years ago so that explains it.
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They still had books with entertainment uk when they went under - but having their own company handling music, videos and games already made it quite easy for them to take that on as well.

Made my brothers day as he works at Tesco's music warehouse, there had been talk of cuts after christmas but now they've got the books as well they're hiring :)
 
^^ E.UK Ltd haven't actually gone into administration, part of the business is still continuing.

I think Tesco owed them £3million last week.
 
These compaines must be just living off credit, maybe some of the managers should go back to uni and learn how to run a business.
 
clv101 said:
I expect to see the carpet sellers struggle, Allied Carpets, Carpetright. Also DIY, maybe Wicks or Focus. And furniture retailers like DFS, Courts.

I've never understood how there are so many ladies clothes shops like Monsoon, Warehouse etc. Surely they can't all survive. Not exactly retailers but surely we've got to lose some Estate Agents.
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I got the impression that a lot of builders used Wicks... It's not a very home DIY friendly store compared to say Homebase, whenever I've been in there. So I doubt that will go anywhere. Focus has always been pretty rubbish when I've been in there stores.

Women's clothes chains will most likely just cut back on stores in places where they aren't making much profit... As I'm sure many different types of shops will do.

There are already plenty of Estate Agents going. I've seen plenty go in my town, and one major agent used to have three high-street presences within a short distance of each other, which is now down to just one.
 
There was a sign outside today saying 'we are no longer accepting returns, trades or refunds' or words to that effect.

How convenient ...
 
Actually for all of you saying that it was as a result of E-UK, it wasn't.

Zavvi have been in the financial faeces for a while now - they were the ones who actually caused their supplier to go bust with unpaid promises of money.

Branson must be laughing his socks off.
 
cheets64 said:
These compaines must be just living off credit, maybe some of the managers should go back to uni and learn how to run a business.
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This is how you do it...

Day 1. get goods on credit terms say 3 months-90days
Day 2. exchange goods for cash (i.e. sell them on there stores)
Day 3. put cash in bank
Day 4-89. Cas in bank gains interest.
Day 90. finally pay for goods.


And I had heard of this Zavvi for a while now, I didn;t realise it was what Virgin megastore became.... I thought it was some web 2.0 internet fad.. I seriously haven't been shopping on the highstreet for YEARS.. highstreet sucks.
 
Hope everyone enjoys shopping at TESCO MEGACORP in a few years time.

I buy loads of stuff online but you can't beat the feeling of sometimes going shopping to a good city and buying loads of stuff and carrying it home imo :<
 
Was there yesterday, got a shed load of recent dvds mainly for christmas presents which were all reduced to around £3.
 
cheets64 said:
These compaines must be just living off credit, maybe some of the managers should go back to uni and learn how to run a business.
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That is exactly how you run a business. Under normal circumstances, you pay your creditors as late as you possibly can. The money is better off with you than it is with your creditors. The later you pay, the more working capital you have, and working capital is the lifeblood of any business.

Maybe YOU should go back to uni and learn how to run a business?
 
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