HMV, Head Entertainment pick up more Zavvi branches
629 jobs saved in total as administrator closes retail business
Ernst & Young has secured the final sale of a number of Zavvi stores and stock, saving a total of 629 jobs.
Following the sale of 14 Zavvi branches to former rival HMV, a deal which is currently undergoing investigation by the OFT, a further five stores have been sold to the retailer.
"This is a fantastic result for the employees and customers of the stores concerned," said Tom Jack, joint administrator.
"Another five stores have been sold to HMV, meaning 111 employees will transfer across to HMV immediately and over the course of the next two weeks these Zavvi stores will be rebranded as HMV. In total, HMV has purchased 19 stores in the UK and Ireland securing jobs for 380 employees."
Five stores have also been sold to Head Entertainment, saving 160 employees, with the sale of a further three stores, along with 89 employees, expected to be complete by February 20.
"Whilst it has not been possible to secure a sale of the business as a going concern, we are delighted to have been able to secure continued employment for 629 Zavvi employees," Jack commented.