Music and Video Club

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Music and Video Club (MVC)
Former type Private
Fate Administration
Defunct 2006
Headquarters London, United Kingdom
Number of locations 82, (73 at time of administration)[1]
Area served United Kingdom
Industry Entertainment Retail, Record store
Products DVDs
Music
Employees 700

Music and Video Club or MVC was a British entertainment retailer which sold DVDs, VHS, audio cassettes, video games and CDs of popular and specialist titles. At its peak the company operated 82 stores in the United Kingdom and also sold products over the Internet. The company closed in January 2006 after entering into administration.[2]

[edit] History

Originally MVC was started by former staff members of Our Price who left after WH Smith bought the company. The company went on to be bought by Kingfisher plc, which later spun it off as part of the Woolworths chain in July 2005. [3]

In August 2005, It was sold to venture capital company Argyle Partners for £5.5 million.[4]

In December 2005, MVC went into administration with Kroll.[5] In January 2006, 41 of MVC's stores were bought by one of its competitors, Music Zone. [6]

Seven stores were bought out by a new company, EA Music, owned by Garry Taylor, from the band Electric Avenue, after which the company is loosely named. EA Music began trading in January 2006. Stores were located in Basildon, Southend, Coventry, Barnsley, Wrexham, Winchester and Gloucester. The stores offered a wide variety of products including CDs, DVDs, sheet music as well as instruments.

On 24 May 2006, following a significant lack of investment in stock, all EA stores closed because of EA Music going into administration itself.

On 25 January 2007, Music Zone, which purchased 41 of the stores from MVC also went into administration.[7] 67 former Music Zone stores were taken over by music and book retailer Fopp, including some of the former MVC stores. However, Fopp itself then went into administration in June 2007. A small number of the stores survived under the Fopp brand, run as part of the HMV Group.[8]

[edit] References

  1. ^ "MVC Entertainment loses its spin". This Is Money. 2005-12-22. http://www.thisismoney.co.uk/news/article.html?in_article_id=405899&in_page_id=2. Retrieved 2009-02-12. 
  2. ^ "Sad note as MVC is called into administration". Bedford Today. 2006-01-01. http://www.bedfordtoday.co.uk/bed-news/Sad-note-as-MVC-is.1299554.jp. Retrieved 2009-02-12. 
  3. ^ "Woolies sells off ailing MVC". This Is Money. 2005-07-31. http://www.thisismoney.co.uk/news/article.html?in_article_id=402654&in_page_id=2. Retrieved 2009-02-12. 
  4. ^ "Sad note as MVC is called into administration". Bedford Today. 2006-01-01. http://www.bedfordtoday.co.uk/bed-news/Sad-note-as-MVC-is.1299554.jp. Retrieved 2009-02-12. 
  5. ^ "MVC Entertainment loses its spin". This Is Money. 2005-12-22. http://www.thisismoney.co.uk/news/article.html?in_article_id=405899&in_page_id=2. Retrieved 2009-02-12. 
  6. ^ "Music Zone buying 41 MVC outlets". BBC News. 2006-01-04. http://news.bbc.co.uk/nolpda/ifs_news/hi/newsid_4581000/4581326.stm. Retrieved 2009-02-12. 
  7. ^ "Music Zone sells stores to Fopp". BBC News. 2007-01-05. http://news.bbc.co.uk/1/hi/scotland/glasgow_and_west/6228793.stm. Retrieved 2009-02-12. 
  8. ^ Ernst & Young Press Statement, [1]

[edit] External links

  • Official site previously redirected to HMV site, now (18th Oct 2009) to Amazon UK
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