Mainly shopfloor staff affected
The joint receivers and administrators of Fopp have announced the loss of approximately 700 jobs at the entertainment chain, which went into administration last week.

The redundancies will mostly affect shopfloor workers. Shop managers are being retained while Ernst & Young assesses the prospects for re-opening.

Ernst & Young joint administrator Tom Burton said: 'It is unfortunate that we have had to make these redundancies, but we are not in a position to re-open the stores until we have the agreement of suppliers that control the licenses to sell stock.

'We would urge anyone with a genuine interest in taking on stores as going concerns to contact us immediately. In the meantime, we wanted to ensure that employees have the opportunity to claim their statutory entitlements through the redundancy fund as soon as possible.'

Fopp's downfall is believed to have been caused by the acquisition of 68 Music Zone stores in February, as well as financial pressure from rising interest rates.

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