News
-
Zavvi Hit By More Store Closures Fourth round of cutbacks...
By Jason Gregory on 6 February 2009
A further 17 stores at the music and DVD retailer Zavvi have been closed with immediate effect, at a cost of 242 jobs.
Administrators Ernst & Young said the chain’s 31 remaining stores would stay open as it continues attempts to find a buyer.
The latest cuts mean 72 Zavvi stores around the UK have closed since the company went into administration on Christmas Day, with 1,068 jobs being lost.
The company, formerly Virgin Megastore, has suffered since the collapse of Woolworths.
...more »
-
Ticketmaster And Live Nation 'In Merger Talks' To form super-company...
By Jason Gregory on 4 February 2009
Ticketmaster and Live Nation are in merger talks and could announce details of a partnership before the end of this week, reports claim.
If finalised, the deal, valued at a reported $700million, would unite the world's leading ticket company and biggest concert promoter under the name Live Nation Ticketmaster.
A report in yesterday's (February 3rd) Wall Street Journal said the boards of both companies have yet to approve the deal.
However, talks are said to be in an advanced stage.
...more »
-
Woolworths To Be Resurrected As Online Company Collapsed company is bought...
By Jason Gregory on 2 February 2009
The collapsed high street chain Woolworths is to be resurrected as an online retailer.
The brand, which closed last month as a result of the economic downtown, has been bought for an undisclosed sum by Daily Telegraph owners, Sir Frederick and Sir David Barclay.
Woolworths chief executive Mark Newton-Jones said he was confident that the company could “prosper” online.
"It would have been a tragedy should the name have disappeared,” he said. “It is an iconic name."
...more »
-
Zavvi Forced To Close 15 More UK Stores At a cost of 295 jobs...
By Jason Gregory on 29 January 2009
Fifteen more stores at the stricken music and DVD retailer Zavvi have been closed with immediate effect, administrators have announced.
Ernst & Young said the closures, which will cost 295 jobs, were necessary as the company was scaled back.
The closures include stores in Birmingham, Colchester and two in London.
The music retailer, formerly Virgin Megastore, fell into administration on December 24th. The company has suffered since the collapse of Woolworths.
Administrators have so far close 55 of Zavvi's UK stores, with the loss of 826 jobs.
Zavvi's remaining 48 stores in the UK are to remain open as the administrator continues its search for a buyer.
"At this time, we are continuing to look to further progress interest from a number of interested parties and consequently do not have a formal closure plan for the entire network," the administrator said.
Zavvi relied on Woolworths' distribution branch Entertainment UK (EUK) to deliver its CDs, DVDs and video games.
The company stopped deliveries and online trading last November after the long-established high street store collapsed.
...more »
-
Apple's Profits Rise As Microsoft Announces Huge Job Cuts Amid global financial meltdown...
By Jason Gregory on 22 January 2009
.gif)
Apple have defied analysts' expectations to record a net profit of $1.61billion for the last quarter.
The company also posted a record revenue of $10.7billion thanks to strong sales of their iPods and the iPhone, which sold four million units.
Apple CEO Steve Jobs, who is currently on medical leave, said the company was “incredibly pleased” with the quarter to the end of December.
The announcement comes as Apple's rival Microsoft said it would be cutting up to 5,000 jobs over the next 18-months, including 1,400 with immediate effect.
...more »
-
HMV To Save Troubled Zavvi Stores From Closure As part of move into live music...
By Jason Gregory on 15 January 2009
Entertainment retailer HMV is to buy 14 stores from its stricken high street rival, Zavvi.
The buyout, which will be funded by selling new shares, will form part of the company's wider move into the live music market.
The Zavvi stores bought by HMV include two branches in Glasgow and one in Southend. A total of 269 jobs will be saved.
Zavvi, formerly Virgin Megastore, fell into administration on December 24th. The company has suffered since the collapse of Woolworths.
...more »
-
Apple's Steve Jobs Extends Medical Leave Until June He sends email...
By Jason Gregory on 14 January 2009
Apple’s CEO Steve Jobs is to take a medical leave of absence until the end of June in order to receive further treatment for a hormone imbalance.
In an email to Apple staff, Jobs said his “health-related issues are more complex than I originally thought.”
The company’s chief operating officer, Tim Cook, is due to take over Jobs’ responsibilities.
Jobs revealed last week in a letter to the Apple community that a hormone imbalance had been preventing his body from receiving vital proteins.
The illness caused him to lose a significant amount of weight in 2008.
...more »
Comments(1) -
Gallows Unveil Full UK And Irish Tour Details And name their new album...
By Jason Gregory on 14 January 2009
.jpg)
Gallows have unveiled a full UK and Irish tour, which will begin in Brighton on May 2nd.
The tour will also include dates in Manchester (February 6th), Norwich (February 13th) and Dublin (February 26th).
Meanwhile, the band have announced that their forthcoming second album will be entitled 'Grey Britain'.
Gallows have been recording the record with Rage Against The Machine producer Gareth Richardson.
...more »
-
Zavvi To Close 18 More Music Stores Including flagship branch...
By Jason Gregory on 14 January 2009
Troubled music retailer Zavvi is to close a further 18 stores, administrators Ernst & Young have said.
The closures, which will cost 353 jobs, include the music and DVD chain's flagship store in Piccadilly Circus in London.
The music retailer, formerly Virgin Megastore, fell into administration on December 24th. The company has suffered since the collapse of Woolworths
Last week, the administrators were forced to close 22 of Zavvi's 114 stores in the UK with immediate effect.
...more »
-
David Bowie 'Started The Credit Crunch' Economics expert claims...
By Jason Gregory on 13 January 2009
David Bowie started the current global financial crisis when he offered fans the chance to buy bonds in his music in the mid-90s, an economics expert has claimed.
The 'Bowie Bonds' entitled the buyer to a share of the royalties from the singer's back-catalogue. In return, Bowie collected future profits up-front.
Evan Davies, who fronts the BBC's Dragons Den, said Bowie's initiative, also known as securitisation, was adopted by banks for use on customer mortgages.
Writing in today's Mirror newspaper, Davies said: “The banks were catching on to the idea. They thought, 'We have billions out there in mortgages which are going to pay us back very slowly. Why don’t we sell those and get the money now?'
...more »
Comments(4)
Lady Gaga, Madonna, Bono - When Music Stars Fall Over! 
Codeine Velvet Club Hit The South Coast - Photos
Paloma Faith Sparkles At KOKO - PHOTOS