This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Retail
Former Zavvi chiefs may buy remaining stores
By CMU Editorial | Published on Monday 9 February 2009
Zavvi’s former CEO Simon Douglas and Commercial Director Mark Noonan are reportedly trying to get together a bid to buy some of the collapsing retailer’s stores. It’s not clear if they’d also try to buy the Zavvi name, though it’s hardly worth much so I’m not sure I’d bother if I was them.
According to Music Week, the duo have resigned their positions from the in-administration retail firm so to work with a third party on mounting a bid. Administrators Ernst & Young have not commented on the Douglas/Noonan plans, though it may be their bid that has stopped the accountants from closing down the whole Zavvi chain just yet – 31 stores remain open.
Some wonder if, in the current economic climate, taking over part of the Zavvi chain would be a sensible move, especially given HMV have already bought what are considered the most viable Zavvi stores.
