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Stock dispute led to Music Zone axe, says administrator.
Music Zone administrator Deloitte has blamed a dispute with suppliers over stock left in-store as one of the reasons behind its decision last week to pull the plug on the high street chain.
Around 800 members of staff lost their jobs following Deloitte's move to axe the remaining 72 stores, which came despite attempts by potential buyers - including a team led by Music Zone managing director Steve Oliver - to take over the business.
However, Deloitte says its hand was forced in the decision to shut up shop because of a dispute over stock left in-store, which suppliers were demanding to be returned. This made it impossible to order new stock and ceasing trading became the only possible option, according to the administrator.
Despite this, the news still came as a surprise; earlier in the week the administrator had been talking optimistically about "ongoing negotiations with a buyer". The decision will mean the end of the Music Zone name and it looks unlikely that even a handful of the stores will re-emerge.
"This feels like the end of the line to me," said an emotional Oliver last week, after ...
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