Wednesday, February 18, 2009

The long, slow death of Zavvi finally ends

If you didn't know better, you might assume that Ernst & Young deliberately chose Brits day to tug the plug on what remains of Zavvi.

There will be a few stores with a short-term future: a further five stores have been picked up by HMV, who will rebrand them and carry on, while former Zavvi Chief Executive Simon Douglas has decided to have another go: he's formed a company called Head Entertainment and picked up five Zavvi stores. That must have been a weird experience:

- so, is this a good business to buy into?
- oh, yes. it was only mismanagement... that... sorry, difficult trading conditions that led to them to going down.

The other stores, though, will be shuttered and the Zavvi name will disappear from the high streets. It's probably not even going to make a Trivial Pursuit question.