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DV247.com owners go into administration

DV247.com owners go into administration
DV247.com owners go into administration
White Rabbit Records Limited, the owners of DV247, previously known as Digital Village, has been placed into administration today.

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

All of DV247's shops have been closed, except for the Romford head office.

It is understood that many of White Rabbit Records' suppliers are at risk of losing significant sums of money as a result of the insolvency, and at this stage it is not known how many more staff will lose their jobs.

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

Read the following article for further information regarding the DV247 administration. Posted on 10 May 2013 14:00 to category : Music News

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