Music Zone heading for administration

[Nitrous]

Value entertainment retailer Music Zone looks to be just days away from going into administration.

According to The Telegraph, the private equity-owned retailer is close to selling off its assets after filing a notice of ‘intention to go into administration’ with Manchester Crown Court. The company’s backer, Lloyds Development Capital, is searching for a buyer to rescue the business.

News Link (http://www.mcvuk.com/Music-Zone-heading-for-administration)

[Redgore]

These guy's bought MVC which was also in a state of near administration (or actual administration). I feel sorry for their old MVC staff who will again face the loss of their jobs. This does however strengthen that shops just cant compete with the net. They may be able to match price but price and variety seems to be hard for them to compete on.

[Nitrous]

If our local Music Zone closes it basically leaves us with HMV for buying CD's and DVD's and yea it can't be nice for the staff either, I've been in the same situation and its not good at all.

[Laguna Loire]

Aaah, the Music Zone near me closed ages ago, which really pissed me off, was a really good store, very cheap. I remember getting Linkin Park's new CD for £8 there (shows how long ago it closed :P)...

[Redgore]

I tend to just buy online now, unless I am in town and happen to go into hmv or wherever and find they have a great price of something. I used to use MVC but once they got taken over by Music Zone I left as they got rid of the manager who I know fairly well.

[Nitrous]

The original owner of Music Zone (Rick) around 13 years ago was best mates with my old boss at GameZone! Think he sold the whole thing off a few years ago and now its all going downhill :( ...

I was in our local store today and bought Hostel and the new Clarkson DVD and the girl behind the counter was saying she's looking for a new job unless a buyer comes forward. I think HMV will buy them out...

[Redgore]

I can't see that happening personally. If it did they would close down every single one, and just sell on the properties (or end the leases). Most places HMV want a store they have one.