Thursday, January 08, 2009

Belfast Zavvi Stores Safe For Now

One of the big stories of today is that 22 Zavvi stores will close immediately. Since going into administration on Christmas Eve, things haven't been good for the former Virgin Megastore chain of music and game retailers. Even the clearout post-Christmas sale hasn't seemed to help, and so today the announcement was made by the administrators that 22 stores will close.

On hearing the news, I was convinced that one of the casualties would be one of the two Belfast city centre stores, on Royal Avenue and in the new Victoria Square development. Yet this list on the BBC website seems to suggest that all closures are on the mainland, and that the two Belfast stores, as well as Zavvi in the Abbeycentre are safe. For now.

It's a terrible time for the economy, and you can't help wondering what will be next. Shoppers seem to be revelling in the great bargains available, but at what ultimate cost, with Woolworths now gone for good, and other shops and companies in serious trouble. It will be a hard winter for the British business world.

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