Virgin Megastores sold to MBO
Sir Richard Branson has sold the UK and Irish Virgin Megastore chains to a management buy-out team, reports the Financial Times.
The vehicle for the management buy-out team is Zavvi Entertainment Group. The 130 shops will be rebranded “zavvi”.
The Daily Telegraph reports that Sir Richard is merely “in talks” to sell the business but theFinancial Times says a deal was completed late on Friday evening.
Zavvi? Worst name ever. Well doen everyone.