Sir Richard Branson reportedly paid a dowry to the management of Virgin Megastores when they bought the loss-making entertainment retailer in September last year. Managing director Simon Douglas and finance director Steve Peckham moved fast to rebrand the 130 stores and the company’s online shop as Zavvi. They have also announced that the company will put more emphasis on the sale of computer and console games, alongside sales of the traditional music, phones and DVDs, and will introduce book, clothing and merchandising departments to each store. Sales in 2007 were £341m.
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