Sale to HMV - Notice to customers (UK and Republic of Ireland) 14.01.2009
"zavvi UK"
zavvi Entertainment Group Limited zavvi Retail Limited zavvi Group Limited V R Services Limited Piccadilly Entertainment Stores Limited Ablegrand Limited Ablegrand 2 Limited
zavvi Ireland Zavvi Retail (Ireland) Limited
The Joint Administrators of zavvi UK and the Provisional Liquidator of Zavvi Ireland are pleased to announce that an agreement has been reached between zavvi UK, zavvi Ireland and HMV Music Limited for the sale of 14 stores (9 UK, and subject to Court and regulatory approval 5 Republic of Ireland) with effect from 11pm on 14 January 2009. 269 employees will transfer across to HMV and over the course of the next two weeks these zavvi stores will be rebranded as HMV. Customers should note that any sales made from UK stores from 15 January 2009 will be made by HMV Music Limited. The Joint Administrators are continuing detailed discussions with a number of interested parties and are optimistic this could potentially lead to the sale of further stores and retention of staff at a number of locations throughout the UK and Republic of Ireland. Zavvi will continue to trade from 63 stores in the UK and 5 stores in the Republic of Ireland. The Joint Administrators would like to thank both the staff and zavvi’s loyal customers for their ongoing commitment and continued support for the business. Tom Jack, Joint Administrator, zavvi UK David Hughes, Provisional Liquidator, zavvi Ireland
The Institute of Chartered Accountants in England and Wales authorises T A Jack and S Allport to act as Insolvency Practitioners under section 390(2)(a) of the Insolvency Act 1986 and the Association of Chartered Certified Accountants authorises A M Hudson and D Hughes to act as an Insolvency Practitioners under section 390(2)(a) of the Insolvency Act 1986.
The affairs, business and property of zavvi UK are being managed by the Joint Administrators T A Jack, S Allport and A M Hudson. The Joint Administrators act as agents of zavvi UK only and without personal liability.
The affairs, business and property of zavvi Ireland are being managed by the Provisional Liquidator David Hughes. The Provisional Liquidator acts as agent of zavvi Ireland only and without personal liability.