Music and Video Club

Music and Video Club (MVC)
Private
Industry Entertainment retail, Record store
Fate Administration
Founded 1989
Defunct 2006
Headquarters London, United Kingdom
Number of locations
 82, (73 at time of administration)[1]
Area served
 United Kingdom
Products DVDs
Music
Owner Kingfisher Group (1993–05)
Woolworths Group (2005)
Argyle Partners (2005–06)
Number of employees
 700
Slogan Music, DVDs and books at simple prices

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]

History

Originally MVC was started by former staff members of Our Price who left after W H Smith bought the company. The company went on to be bought by Kingfisher plc in 1993,[3][4] which later spun it off as part of the Woolworths chain in July 2005.[5]

In August 2005, it was sold to venture capital company Argyle Partners for £5.5 million.[2]

In December 2005, MVC entered administration with Kroll.[1] In January 2006, 41 of MVC's stores were bought by one of its competitors, Music Zone.[6]

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.[8] However, Fopp itself then went into administration in June 2007.[9]

References

  1. 1 2 "MVC Entertainment loses its spin". This Is Money. 2005-12-22. Retrieved 2009-02-12.
  2. 1 2 "Sad note as MVC is called into administration". Bedford Today. 2006-01-01. Retrieved 2009-02-12.
  3. ↑ http://www.fpm.com/journal/members/kingfish.htm
  4. ↑ Kingfisher Plc Business Information, Profile, and History, JRank (retrieved 9 October 2010)
  5. ↑ "Woolies sells off ailing MVC". This Is Money. 2005-07-31. Retrieved 2009-02-12.
  6. ↑ "Music Zone buying 41 MVC outlets". BBC News. 2006-01-04. Retrieved 2011-09-03.
  7. ↑ "Music Zone enters administration". BBC News. 2007-01-05. Retrieved 2009-02-12.
  8. ↑ "Music Zone sells stores to Fopp". BBC News. Retrieved 2011-09-03.
  9. ↑ Ernst & Young Press Statement

External links

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