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DV247.com Enters Administration - Update

DV247.com Enters Administration - Update
DV247.com Enters Administration - Update
White Rabbit Records Limited, the former owners of the DV247 website also known as Digital Village and Music Village was placed into administration on Friday 10th May.

The DV247 websites have been purchased in a Pre-Pack deal by German retailer 'Music Store Professional GMBH' of Cologne, and it is understood that orders placed on the DV247 website are now being shipped from Music Store's German warehouse.

Seven out of eight DV shops have been closed, with over 30 people already understood to have been made redundant.

The closed stores are: DV247 Acton, DV247 Barnet, DV247 Birmingham, DV247 Bristol, DV247 Cambridge, DV247 Clapham, DV247 Southampton.

It is widely reported that many of White Rabbit Records' UK based suppliers are at risk of losing significant sums of money as a result of the insolvency, and DV247 is no longer thought to be purchasing products from many of the UK suppliers owed money by White Rabbit Records Limited.

The former majority shareholder of DV247 John Da Costa has been appointed as a Director of the new 'phoenix' company DV247 Limited, along with Michael Sauer of Music Store in Germany.

A summary of the situation as understood so far is:

  • White Rabbit Records Limited is now in administration
  • All DV247 orders are now being shipped from Germany
  • Many UK suppliers owed money are no longer supplying DV247
  • Seven out of eight shops have been closed
  • Over 30 staff made redundant
  • DV247 back orders and warranties are being honored for the time being by the new phoenix company
  • If you have any questions or concerns regarding this article, then please call us on 0843 155 0800

    By Vicky Brown Posted on 15 May 2013 09:26 to category : Music News

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