Business News Deals HMV Timeline Retail

HMV buys six Fopp stores

By | Published on Tuesday 31 July 2007

Fopp

HMV will buy the Fopp brand and six of its stores. The deal with the former indie retailer’s administrators Ernst & Young will see the six former Fopp stores in question reopen as Fopp asap. The purchase also means that 70 of the redundant Fopp workforce should be offered their jobs back.

A spokesman for HMV is quoted thus: “The Fopp stores we are purchasing have all traded profitably, whilst ownership of the brand will enable us preserve Fopp’s unique identity and trading culture. These stores will operate independently of the main HMV chain in order to preserve their distinct customer offer. Fopp is well regarded by many music and entertainment consumers, enjoying strong local awareness and appeal, and we’re pleased that we will be able to preserve the brand and product offer through the stores and online”.



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