History
Soon after, Music Zone opened its first permanent shop in Stockport and began to expand in the Manchester region, rebranding itself to Music Zone Trade Direct and positioning itself as a value retailer. In Spring 2005 Music Zone was sold in a management buy-out for £12 million, backed financially by the private equity firm Lloyds Development Capital (LDC), as well as funds from the board of directors. In the twelve months to 31 May 2005, the company made a £4,000 pre-tax loss on sales of £70.4m. Then in early 2006 the company bought 41 outlets from collapsed chain MVC, allowing Music Zone to expand nationwide. All stores were branded to 'Music Zone'. The MVC acquisitions took the estate to 104 stores making the chain the third largest specialist entertainment retailer in the United Kingdom, less than 30 stores behind nearest rival Virgin Megastore.
Read more about this topic: Music Zone
Famous quotes containing the word history:
“Jesus Christ belonged to the true race of the prophets. He saw with an open eye the mystery of the soul. Drawn by its severe harmony, ravished with its beauty, he lived in it, and had his being there. Alone in all history he estimated the greatness of man.”
—Ralph Waldo Emerson (1803–1882)
“Literary works cannot be taken over like factories, or literary forms of expression like industrial methods. Realist writing, of which history offers many widely varying examples, is likewise conditioned by the question of how, when and for what class it is made use of.”
—Bertolt Brecht (1898–1956)
“It may be well to remember that the highest level of moral aspiration recorded in history was reached by a few ancient Jews—Micah, Isaiah, and the rest—who took no count whatever of what might not happen to them after death. It is not obvious to me why the same point should not by and by be reached by the Gentiles.”
—Thomas Henry Huxley (1825–95)