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.[1]
| Company type | Private |
|---|---|
| Industry | Entertainment retail, Record store |
| Founded | 1989 |
| Defunct | 2006 |
| Fate | Administration |
| Headquarters | , |
Number of locations | 82, (73 at time of administration)[citation needed] |
Area served | United Kingdom |
| Products | VHS, DVD, music, video games |
| Owner | Kingfisher Group (1993–05) Woolworths Group (2005) Argyle Partners (2005–06) |
Number of employees | 700 |
History
editMVC was founded by former Our Price directors, who left after W H Smith bought the company. It took over two Titles video rental stores in Hendon and Colchester initially and its unique selling strategy was to offer discounted prices for members, using a dual pricing system whereby members obtained a membership card for a small fee. However, its strategy of locating off the high street to save rental costs led to reduced footfall and as competitors began to reduce CD, video and multimedia prices, this price advantage was eroded over time. It belatedly attempted to locate newer outlets in prime locations but MVC had missed its opportunity. It was bought by Kingfisher plc in 1993,[2] which later spun it off as part of the Woolworths chain in July 2005.[citation needed]
In August 2005, MVC was sold to venture capital company Argyle Partners for £5.5 million.[1] In December 2005, however, it entered administration with Kroll.[citation needed] In January 2006, 41 MVC stores were bought by competitor Music Zone.[3]
On 25 January 2007, Music Zone also went into administration.[4] 67 former Music Zone stores were taken over by music and book retailer Fopp, including some of the former MVC stores.[5] Fopp, however, also subsequently entered administration in June 2007, though that brand was saved after purchased by HMV, and as of 2018, still has seven stores trading.[6]
References
edit- ^ a b "Sad note as MVC is called into administration". Bedford Today. 1 January 2006. Retrieved 12 February 2009.[permanent dead link]
- ^ "Kingfisher". FPM. Archived from the original on 11 July 2011. Retrieved 10 October 2010.
- ^ "Music Zone buying 41 MVC outlets". BBC News. 4 January 2006. Retrieved 3 September 2011.
- ^ "Music Zone enters administration". BBC News. 5 January 2007. Retrieved 12 February 2009.
- ^ "Music Zone sells stores to Fopp". BBC News. 5 February 2007. Retrieved 3 September 2011.
- ^ Ernst & Young Press Statement Archived 9 October 2007 at the Wayback Machine
External links
edit- Official website, previously redirected to HMV site, and then to Amazon UK. Now directed to a Sedo holding page
- Official website, archived version of website from Feb 06