SmashLives!

SmashLife 2: the sequel project - SmashLives.....It's ALIVE!


    Zaavi (Virgin Megastore) goes into administration

    Share

    Guest
    Guest

    Zaavi (Virgin Megastore) goes into administration

    Post  Guest on Wed Dec 24, 2008 4:31 am

    Ok, Woolies was no surprise as it was utter shite, but I did NOT see this coming.

    Zaavi (aka Virgin Megastore) in administration

    They had one of the highest turnovers of any business not so long ago... how badly did they f**k that up?


    Last edited by JK on Wed Dec 24, 2008 4:42 am; edited 1 time in total
    avatar
    Sweatsock

    Number of posts : 360
    Age : 33
    Location : Glasgow
    Registration date : 2008-09-15

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Sweatsock on Wed Dec 24, 2008 4:39 am

    It seems to have been down to them using a single supplier, a supplier who was part of the Woolworths group. Domino effect by the sounds of it.

    Guest
    Guest

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Guest on Wed Dec 24, 2008 4:43 am

    Hmm. Although unlike Woolies I can't see nobody wanting to pick this up. If it closes it would effectively mean HMV would have a monopoly on high street general media.

    It's a very lucrative business and if it was just a supply problem someone could pick that up for a bargain!
    avatar
    showstealer

    Number of posts : 1977
    Age : 74
    Location : The 3rd Division.
    Registration date : 2008-09-17

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  showstealer on Wed Dec 24, 2008 5:25 am

    Massive queues in Bromley yesterday, PS3s going for 250! and Xbox360s for 150! Shocked
    avatar
    Shaun2J

    Number of posts : 1030
    Registration date : 2008-09-19

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Shaun2J on Wed Dec 24, 2008 5:36 am

    Must be desperate.
    avatar
    ThatChumpStain

    Number of posts : 219
    Age : 34
    Registration date : 2008-09-24

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  ThatChumpStain on Wed Dec 24, 2008 12:22 pm

    Man, I'm heading there Boxing Day, pretty cheap stuff in there a lot of the time, looks like I'm going to have to look into spending more of my car savings, shame.
    avatar
    KabukiJoe

    Number of posts : 492
    Age : 35
    Location : North Yorkshire
    Registration date : 2008-10-10

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  KabukiJoe on Wed Dec 24, 2008 3:08 pm

    Sod the car savings, think I'm heading in there on Boxing Day with some of my house savings & my shiny new credit card. But I reckon that someone will want to pick them up and save them. I saw in the paper yesterday that it's predicted up to 15 high street retailers could face going bust in the New Year, never figured Zavvi would be one of them.

    Guest
    Guest

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Guest on Thu Dec 25, 2008 7:28 am

    Might go and pick up some games for my new Wii Smile
    avatar
    Hector_Nicols_Accordian

    Number of posts : 468
    Registration date : 2008-09-15

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Hector_Nicols_Accordian on Thu Dec 25, 2008 2:05 pm

    Zavvi was an obvious one, people had been speculating for weeks that they were in trouble. Branson got the Virgin brand name off them right in the nick of time. And I disagree that they are an attractive company to pick up, more and more people are downloading music and buying multimedia off the internet these days, high street multi media shopping is fast becoming a thing of the past.

    What companies do people reckon may be in trouble next?

    I go for WH Smith who are really like Woolworths in a lot of ways, hopefully they have been managed a little better though.
    avatar
    KabukiJoe

    Number of posts : 492
    Age : 35
    Location : North Yorkshire
    Registration date : 2008-10-10

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  KabukiJoe on Thu Dec 25, 2008 2:24 pm

    Smiths is definitely a good call. I've been in a few times over this last month trying to find things for Christmas presents, and I either couldn't find what I wanted due to a poor selection available, or if they did have what I wanted it was considerably more expensive that a shop further down the street.
    avatar
    Hector_Nicols_Accordian

    Number of posts : 468
    Registration date : 2008-09-15

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Hector_Nicols_Accordian on Fri Dec 26, 2008 4:01 am

    DIY shops could also suffer due to the total stagnation of the housing market.
    avatar
    Ultimo LJ

    Number of posts : 61
    Registration date : 2008-09-16

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Ultimo LJ on Sat Dec 27, 2008 2:37 am

    Why is nobody warning each other of bargains?! Damn you Smash!
    avatar
    Big Dave

    Number of posts : 1194
    Age : 39
    Location : Hell
    Registration date : 2008-09-23

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Big Dave on Tue Dec 30, 2008 4:05 am

    I agree with the Smiths call, everything they sell is so bloody expensive, I would think one of the major high street sports chains as well.

    USC is also in trouble about half the chain has been bought out but the rest is going,
    .

    Guest
    Guest

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Guest on Tue Dec 30, 2008 5:31 am

    Smiths have a niche market though which may save them. Even though the stuff they sell is expensive you rarely find a competing stationary shop conveniently near Smiths. Or I don't anyway. The only exception is Oxford but that's to be expected.

    In Croydon it's Smiths or nothing and I'm sure it's not alone.
    avatar
    showstealer

    Number of posts : 1977
    Age : 74
    Location : The 3rd Division.
    Registration date : 2008-09-17

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  showstealer on Tue Dec 30, 2008 6:26 am

    WH Smith distributes a lot of newspapers so there safe. They also have a lot of strategic shops at train stations that sell papers to commuters. You may see a few of the high street shutting down but they're pretty safe. As for DIY stores, people aren't buying homes so there's probably a market for doing up what they currently have.

    Small building firms are not going to enjoy 2009.
    avatar
    Hector_Nicols_Accordian

    Number of posts : 468
    Registration date : 2008-09-15

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Hector_Nicols_Accordian on Tue Dec 30, 2008 6:47 am

    JK wrote:Smiths have a niche market though which may save them. Even though the stuff they sell is expensive you rarely find a competing stationary shop conveniently near Smiths. Or I don't anyway. The only exception is Oxford but that's to be expected.

    In Croydon it's Smiths or nothing and I'm sure it's not alone.

    The thing is, Smiths don't have a niche market, that is their problem. Getting by on sales of pencils and writing paper isn't really possible.

    And loads of towns were in the "it's Woolworths or nothing" situation, so that doesn't really do much good.
    avatar
    KabukiJoe

    Number of posts : 492
    Age : 35
    Location : North Yorkshire
    Registration date : 2008-10-10

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  KabukiJoe on Tue Dec 30, 2008 12:10 pm

    Big Dave wrote:USC is also in trouble about half the chain has been bought out but the rest is going,
    .
    Isn't it the present owner who has bought a sizeable number of the stores via a new holdings company in an effort to safeguard jobs? They reckon only 300 jobs are in danger now rather than the entire company.
    avatar
    Mezzy

    Number of posts : 45
    Age : 29
    Location : Bournemouth
    Registration date : 2008-11-20

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Mezzy on Tue Dec 30, 2008 5:22 pm

    Anyway, I picked up No Country For Old Men for 4, American Psycho for 3 and Knocked up for 2.99. Excellent.
    avatar
    brother of destruction

    Number of posts : 370
    Age : 34
    Location : A couple of miles east of parts unknown
    Registration date : 2008-09-15

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  brother of destruction on Sun Jan 04, 2009 2:13 pm

    Sweatsock wrote:It seems to have been down to them using a single supplier, a supplier who was part of the Woolworths group. Domino effect by the sounds of it.

    Am I the only one that was really surprised that a company of that size put all it's eggs in the basket of a single supplier?
    avatar
    KabukiJoe

    Number of posts : 492
    Age : 35
    Location : North Yorkshire
    Registration date : 2008-10-10

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  KabukiJoe on Sun Jan 04, 2009 3:55 pm

    Nope, I was surprised too, I didn't think businesses did that anymore. It just doesn't make sense to me to just use the one supplier.
    avatar
    Dr Hellwig PhD

    Number of posts : 217
    Age : 38
    Location : Perpetually moving through shitholes. Or Polmont and Croy as they are otherwise known
    Registration date : 2008-10-28

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Dr Hellwig PhD on Mon Jan 05, 2009 4:47 am

    KabukiJoe wrote:Nope, I was surprised too, I didn't think businesses did that anymore. It just doesn't make sense to me to just use the one supplier.

    That's the economics of it though - they can't compete in their market without doing that. The supermarkets have locked down high volume, low variety deals with supplier chains a number of whom have now decided that'll provide the biggest yield for their business (which is true as it happens) so for a high street retailer that would be looking for a fairly extensive catalogue, they are severly restricted as to who they can go to that can provide a competitive rate.
    avatar
    KabukiJoe

    Number of posts : 492
    Age : 35
    Location : North Yorkshire
    Registration date : 2008-10-10

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  KabukiJoe on Mon Jan 05, 2009 4:56 am

    I'd have thought that by using a number of different suppliers, they could use that to play off the suppliers into knocking down prices in an effort to ensure a larger slice of their custom.

    Sponsored content

    Re: Zaavi (Virgin Megastore) goes into administration

    Post  Sponsored content


      Current date/time is Tue Oct 24, 2017 4:15 am