Sir Richard Branson yesterday severed his last remaining link with the high street, offloading his Virgin Megastore chain at a time when record shops are under unprecedented pressure from the internet and supermarkets. The sale of stores throughout the UK and Ireland to a management buyout group for an undisclosed sum marks a final retreat from the music industry after more than 35 years. After setting the company up as a mail order business inSir Richard opened the first Megastore in Oxford Street, London, the following year and founded the Virgin record label inselling millions of vinyl copies of Mike Oldfield's Tubular Bells.
Virgin Megastores is an international entertainment retailing chain, founded in early by Sir Richard Branson as a record shop on London 's Oxford Street. In the company opened their first Megastore at the end of Oxford Street and Tottenham Court Road ;  the company expanded to hundreds of stores worldwide in the s, but has lost a large number of stores in recent years, largely with the sale and eventual closing of the UK, US, Irish, Canadian, Australian, Italian, Spanish, French, Greek and Japanese stores. Bycurrent operations are exclusively in the Middle East and in North Africa, consisting of approximately 40 stores.
Virgin Megastore, which opened less than a decade ago at one of the highest-profile intersections on Michigan Avenue, is closing. The chain, in a statement e-mailed to the Tribune, said that it will close its Chicago and Salt Lake City stores in July. That will bring to seven the number of Virgin outlets that have been shuttered since last year as the music industry undergoes a seismic shift with growing competition from online music sales.
Morning All. Many thanks to all those who posted replies to my previous request about shopping for my 20 year old. Have noted and inwardly digested, daughter very happy! I now have another query, still shopping though.
Virgin Megastore celebrated the opening of its latest megastore, located in Hayat Mall, Riyadh, with a gala event on Nov. Virgin Megastores is a one-stop shop for all entertainment needs, offering a high level of customer service and a range of products including computers and accessories, electronics and multimedia, gaming, books, gadgets, gifts, music and movies, and house gadgets. There is also a counter selling tickets for events and concerts.
Nisreen Shocair has seen most imaginable in her 11 years running the company in the region, including war, currency problems and recessions. Virgin Megastore is an electronics and entertainment retail chain with over 50 stores across the region. The arrival of Apple [store] was arguably a net benefit for all occupants at Mall of the Emirates, with traffic up 11 per cent by end ofaccording to Shocair.
British Broadcasting Corporation Home. The administrators of music, games and DVD chain Zavvi have announced it is closing a further 18 stores with the loss of jobs. The group's flagship store in Piccadilly in London, which employs people, is one of the shops to go.
I'm in Paris now. A sad place indeed. You walk in, you feel the emptiness, the place looks haunted, dark, dimmed lights, a few people working Very touching
Virgin Megastore France, which employs 1, people, will unveil a plan to file for payments suspension at a meeting of staff representatives on January 7, a company spokeswoman said on Friday. The French division has been in the red throughout the past four years and piled up an estimated debt of 22 million euros 18 million pounds. Filing to suspend payments is the first step towards a court-ordered company restructuring in France.