- by Daniel Melia
- Tuesday, July 31, 2007
- filed in:
HMV have bought the Fopp brand and six stores from administrator’s Ernst & Young.
Fopp was forced to close down earlier this month with the loss of 700 jobs after 25 years in operation.
However, according to Music Week 70 of those jobs will now be saved after HMV took ownership of the brand.
The six stores, which HMV say they will open as soon as possible subject to landlords consent, are in Cambridge, Edinburgh, Glasgow, London (Covent Garden), Manchester and Nottingham.
A HMV spokesman said of the purchase: “The Fopp stores we are purchasing have all traded profitably, whilst ownership of the brand will enable us preserve Fopp's unique identity and trading culture.
“These stores will operate independently of the main HMV chain in order to preserve their distinct customer offer.
“Fopp is well regarded by many music and entertainment consumers, enjoying strong local awareness and appeal, and we're pleased that we will be able to preserve the brand and product offer through the stores and online.”
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