Zavvi to sell five stores to rival HMV

ZAVVI, the former Virgin Megastore, has agreed to sell five of its 11 stores in the Republic to rival music group HMV.

Zavvi closed its branch in Blanchardstown in Dublin yesterday with the loss of 13 jobs.

Last evening, the company’s administrators, Ernst & Young, announced that five of Zavvi’s 11 stores in the Republic would go to HMV as part of a deal to sell 14 stores.

The 110 workers at the stores in Dundalk, Dundrum, Liffey Valley, Limerick and Newbridge will transfer to HMV with immediate effect.

Tom Jack, joint administrator of British zavvi, said: “This is a great result for the employees and customers of the stores concerned — 269 employees will transfer across to HMV immediately and over the course of the next two weeks these Zavvi stores will be rebranded as HMV.

“We are continuing detailed discussions with a number of interested parties and are optimistic this could lead to the sale of further stores and retention of staff at a number of locations throughout Britain and the Republic of Ireland.

“Zavvi continues to trade with 63 stores in Britain and five in the Republic of Ireland.”

The stores sold to HMV Music are Dundalk, 17 jobs; Dundrum, 33 jobs; Liffey Valley, 33 jobs; Limerick, 13 jobs and Newbridge, 14 jobs.