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Virgin Record Stores Sold


09/18/07
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(Contact Music) Sir Richard Branson's Virgin group today revealed that it has sold its chain of record stores to a team of senior management personnel at the firm.

Under the deal the 125 stores which currently operate under the Virgin Megastores brand in the UK and Ireland will all trade under the new name Zavvi.

Announcing the sale of the high-street music business, Sir Richard said the move was part of a withdrawal that his business empire had been making from the entertainment retail sector over the past six years. - more on this story

Click here to read today's full report

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