Financial Times FT.com

Virgin shrugs off financial impact of Zavvi collapse

By Roger Blitz and Lucy Kilgren

Published: December 27 2008 02:00 | Last updated: December 27 2008 02:00

Virgin expects to emerge undamaged from the collapse of Zavvi, the music retailer it underpinned financially but which has gone into administration, the group said yesterday.

Zavvi followed Whittard of Chelsea and The Officers Club into the hands of administrators just before Christmas as supply problems in the wake of the collapse of Woolworths and dire trading conditions took their toll. Zavvi was previously Virgin Megastores prior to a management buy-out of the division from Virgin Group in September 2007.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this