Acquisition Resources

MVC, the UK-based music retailer, has submitted bankruptcy filings and appointed Kroll as administrators. Kroll, the corporate recovery specialist, said it would look for buyers for MVC. MVC has annual sales of approximately £120m. MVC was sold last August to a consortium of buyout groups for £5.5m. Woolworths, the UK-listed retailer, was the vendor. The business will continue operating over the festive season, Kroll said yesterday, according to the report. Music Zone, the UK-based music retailer, agreed to buy 40 retail outlets from MVC. However, the disposals are now being examined by Kroll.