MCV/DEVELOP News, events, research and jobs from the games industry
The group founding partners of Zavvi have singled out the demise of EUK as having a big part to play in the chain’s going into administration . In a statement released following the news that broke this morning, Simon Douglas and Steve Peckham said: "We have done all that is …
Read More »Zavvi enters administration
Entertainment retailer Zavvi has fallen into administration following the collapse of EUK, auditor Ernst and Young has confirmed. The High Street chain – formally known at Virgin Megastores – has 114 UK stores and employs over 3,000 members of staff. Ernst and Young will now act as administrator for Zavvi …
Read More »EUK legacy looms large over frantic market
Suppliers burnt by EUK’s demise disagree over whether to feed Zavvi with Christmas stock that will help it pay off its huge debts. MCV understands that some of the UK’s largest publishers have reclaimed stock from EUK administrator Deloitte and are now trading direct with individual Zavvi stores – after …
Read More »Administrator chasing up Zavvis EUK debt
EUK administrator Deloitte has refused to confirm the amount of money that Zavvi owes the distributor – but has said that it will actively chase up” the entertainment retailer’s debt. EUK and Woolworths joint administrator at Deloitte Neville Kahn said: Zavvi is one of the major customers that owes money …
Read More »Zavvi cuts Xbox 360 to sub-£100
Zavvi is selling the Xbox 360 for under 100 for the first time in its history, MCV has learnt. In a last-minute Christmas sale, the company has reduced the Arcade SKU to 99.99 – news which could kick off festive a hardware price war on the High Street. The Premium …
Read More »Zavvi protects cash from administrator
Zavvi has reportedly opened a separate bank account to deposit takings from shoppers who have bought store vouchers. Zavvi believes that the funds will be protected from an administrator if it is forced to cease trading. EUK, the distribution division of Woolworths, is believed to be owed about 100m by …
Read More »EUK: Zavvi clarifies its position
Following news reports earlier today that EUK administrator Deloitte has called in Zavvi’s debt to the distributor, the UK entertainment retailer has clarified its position to MCV. Zavvi has refuted claims that it will be forced into administration by Deloitte, whilst also offering its condolensces to those who lost jobs …
Read More »Zavvi buys direct as it cancels orders
Zavvi is the latest retailer to set up a direct buying relationship with entertainment suppliers – following EUK’s decline into administration last week. EUK previously bought and supplied products for Asda, Zavvi, Sainsbury’s, WH Smith, Morrisons and Woolworths. However, since parent company Woolworths pulled it into administration last week, relationships …
Read More »Zavvi launches game clearout
With the Christmas release schedule growing increasingly congested, Zavvi has cut prices on recently released titles both online and in-store. The clearout covers all platforms, with deals including Devil May Cry 4 on Xbox 360 and PS3 for 11.99, The Legend of Zelda: The Phantom Hourglass on DS for 16.99 …
Read More »Supermarket stock shock looms as EUK relations falter
MCV understands that UK publishers are increasingly wary of pushing stock through EUK ahead of the Christmas rush – and are considering cutting out the distributor entirely. The mayhem began on September 17th, when the Woolworths Group PLC reported a 100m loss for the first half of the year. Two …
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