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The joint administrators of Zavvi UK this morning (8th January) announced the immediate closure of 22 of the chain’s stores with the loss of 178 jobs.
The remaining 92 Zavvi stores will continue to trade throughout the UK and will offer further price reductions on stock of between 20 and 50% from tomorrow.
Ernst & Young said it plans to sell all or part of the Zavvi business as a going concern. So far, 60 parties had expressed an interest in buying the music and book retailer.
Tom Jack, joint administrator from Ernst & Young, said: “Despite record consumer demand since Christmas it is no longer possible to support continued trading across all of the Zavvi stores. Unfortunately the current difficulties faced on the UK high street seem to be discouraging retailers from investing in a significant number of new stores."
He added: “We are extremely grateful to the staff and management at all stores and the head office for their fantastic support throughout this difficult time."
Ernst & Young said it was working closely with the Insolvency Service’s Redundancy Payment Office and Job Centre Plus to provide support and advice to employees made redundant. This includes a fast-track process for paying redundancy entitlements.
The stores to close are as follows: Ashford (Ashford Designer Outlet), Ayr, Bideford (Atlantic Village), Braintree, Braintree (Freeport Village), Bridgend (Welsh Designer Outlet Village), Edinburgh (Cameron Toll), Castleford Outlet, Chatham, Hempstead Valley, High Wycombe (Octagon), Huddersfield, Liverpool (Clayton Square), Livingston (McArthur Glen Outlet), Manchester (Salford Quays), Mansfield (McArthur Glen Outlet), Newcastle (Royal Quays), Sterling Mills, Street (Clarks Village), Swindon (Great Western Designer Outlet), Torquay, York (McArthur Glen Outlet).