HMV eyes more Zavvi stores
Entertainment retailer looks to fill gaps left by collapse of High Street rivals
Following the purchase of 14 former Zavvi stores, HMV has said that it is also in negotiations to buy more outlets from its troubled entertainment rival.
While the company is only after "less than a handful" of new stores according to CEO Simon Fox, it highlights the retailers determination to take advantage of the gaps in the market left by High Street stores such as Zavvi and Woolworths.
"There is no doubt the consumer environment is tough, but the things we sell are more immune," said Fox, speaking to Bloomberg.
As detailed last week, the company bought 14 stores in locations it did not already have a strong presence, for GBP 700,000. With the costs of refitting and branding, HMV is expecting to spend GBP 2 million on the new outlets.