Stricken Zavvi To Continue With Boxing Day Sale

High Street music and DVD retailer Zavvi will open as normal for its Boxing Day sale despite falling into administration.

The announcement about the company's immediate future comes just hours after bosses were forced to call in administrators Ernst & Young.

The administrator has vowed to try and keep the chain’s 125 stores open and prevent the loss of more than 2,500 jobs.

Zavvi will hope the traditional Boxing Day sales rush will make it more attractive to potential buyers.

Woolworths Demise

As previously reported on Gigwise, Zavvi this morning (December 24th) became the latest victim of the global financial crisis.

The company, formerly Virgin Megastore, has suffered since the demise of Woolworths.

The store relied on Woolworths' distribution branch Entertainment UK (EUK) to deliver its CDs, DVDs and video games.

Zavvi stopped deliveries and online trading last month after the long-established high street store collapsed.

Christmas 'Crunch'

Two other popular high street names - Tea and coffee specialist Whittards and menswear store The Officers Club – have both been taken into administration during the Christmas period.

Woolworths, which would have celebrated its 100th year of trading in 2009, is due to close on January 5th, unless a last minute buyer can be found.

Zavvi's administration does not currently include its stores in Ireland.

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Click here to read Jason Gregory’s look at the affect the digital world has had on stores like Woolworths and Zavvi.