Jobs lost as Music Zone administrators fail to find a buyer

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.

“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.

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