Music Zone CD and DVD retailer is to cut about 800 jobs after struggling against increased competition from online retailers and supermarkets.
Professional services firm Deloitte announced that the Stockport-based company had not found a suitable buyer after going into administration earlier this year.
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“While discussions continue as regards the business, trading has ceased at this time as there is no certainty that any sale can be achieved,” a Deloitte statement said.
In 2005 Music Zone was taken over as part of a £12m management buyout backed by private equity firm Lloyds Development Capital. The retailer, which has 104 UK stores, was founded in Manchester in 1984.
