Quayle Munro has advised Virgin Group on the sale of Virgin Megastores, its record store business, to Zavvi Entertainment Group for an undisclosed amount. The deal ended the Virgin group’s 30 year involvement with high street music retailing. The Virgin group had been withdrawing from entertainment retailing and this represents a disposal of an asset which is not core to the group’s future.
Virgin Group is a leading branded venture capital organization and one of the world’s most recognized and respected brands. It has created more than 200 branded companies worldwide with revenues in excess of £10bn.