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18 more Zavvi stores axed

The Joint Administrators of Zavvi UK Ernst & Young has today announced the immediate closure of a further 18 stores.

353 employees have been laid off as a result, bringing the total number of people who have lost their jobs since the firm went into administration to 594.

Ernst & Young reveaed that despite 70 expressions of interest, it still hadn't receieved a firm offer for the Zavvi store portfolio. The administrator will continue to trade the remaining 74 stores throughout the UK.

Ernst & Young closed 22 of the retailer’s UK stores on January 8th – leading to the redundancy of 178 employees. 69 staff also lost their jobs at the retailer's London HQ.

Joint administrator Tom Jack said: “Despite having received in excess of 70 expressions of interest, we have not received any offers for the store portfolio as a whole. Consequently, with reducing stock levels we have had to manage the cost base of the business and close a further 18 stores.

"We will however continue to trade the remaining zavvi stores with a view to selling all or part of the zavvi business as a going concern. We remain optimistic that current sale negotiations will prove successful and that a sale can be achieved.

"We are extremely grateful to the staff and management at all stores and the head office for their fantastic support throughout this difficult time. We would also like to thank Job Centre Plus and The Redundancy Payments Office for their continued support.”

The full list of stores, (with numbers of employees made redundant today) is:

Basingstoke (16)
Belfast (Castlecourt) (22)
Cambridge (10)
Cheshire Oaks (Outlet Village) (11)
Crawley (18)
Londonderry (15)
Edinburgh (Gyle) (13)
Gateshead (12)
Glasgow (Argyle St) (18)
Grimsby (9)
Hull (19)
Newry (11)
Newtownabbey (11)
Piccadilly (Tower) (110)
Romford (13)
Stevenage (10)
Watford (24)
Woking (11)

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Tags: zavvi , ernst & young , ernst and young

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