HMV Buys Out Fopp Brand Name
Published Tuesday, 31st July, 2007 at 11:35 AM
Following the closure of Fopp last month, HMV have now bought the chain's name and plans to re-open six of the closed shops.
The six stores will open as soon as possible and are based in the following major cities - London, Nottingham, Manchester, Glasgow, Edinburgh and Cambridge. The re-opening of these shops will save 70 of the initial 700 lost jobs.
A spokesman for HMV says of the take-over: "The Fopp stores we are purchasing have all traded profitably, whilst ownership of the brand will enable us preserve Fopp's unique identity and trading culture."
"These stores will operate independently of the main HMV chain in order to preserve their distinct customer offer."
"Fopp is well regarded by many music and entertainment consumers, enjoying strong local awareness and appeal, and we're pleased that we will be able to preserve the brand and product offer through the stores and online."
