Wednesday, January 14, 2009

Zavvi runs away from the Circus

Yesterday, the flagship Virgin Megastore was axed in the US; today, as part of the latest slew of closures announced by Ernst & Young as they battle to keep Zavvi afloat, their flagship, in Piccadilly Circus, is going.

By the end of the latest round of closures, 40 stores will have gone, ranging from Piccadilly to the Cheshire Oaks outlet village; nearly two-thirds of the chain remains trading though, and E&Y are upbeat about the possibility of finding a buyer.