The big boys of music retail struggled too, and HMV did quite a bit of restructuring in a bid to adapt. Richard Branson couldn't be bothered with such things, and set about offloading one of his Virgin Group's very original businesses, the Virgin Megastore chain. Despite some talk of an HMV/Megastore merger, in the end Branson sold his high street chain to its management, who immediately announced a name change to the rather uninspiring Zavvi. The rebrand is underway, and it remains to be seen if the new high street music brand manages to gain momentum before high street music starts to die out.
Dec 20, 2007
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1 min read
Virgin Megastore sold to management and renamed Zavvi
Richard Branson has sold the Virgin Megastore chain to its management, who have renamed it Zavvi, with the rebrand currently under way.