MVC was founded by former Our Price directors, who left after W H Smith bought the company. It took over two Titles video rental stores in Hendon and Colchester initially and its unique selling strategy was to offer discounted prices for members, using a dual pricing system whereby members obtained a membership card for a small fee. However, its strategy of locating off the high street to save rental costs led to reduced footfall and as competitors began to reduce CD, video and multimedia prices, this price advantage was eroded over time. It belatedly attempted to locate newer outlets in prime locations but MVC had missed its opportunity. It was bought by Kingfisher plc in 1993,[2] which later spun it off as part of the Woolworths chain in July 2005.[citation needed]
In August 2005, MVC was sold to venture capital company Argyle Partners for £5.5 million.[1] In December 2005, however, it entered administration with Kroll.[citation needed] In January 2006, 41 MVC stores were bought by competitor Music Zone.[3]
On 25 January 2007, Music Zone also went into administration.[4] 67 former Music Zone stores were taken over by music and book retailer Fopp, including some of the former MVC stores.[5] Fopp, however, also subsequently entered administration in June 2007, though that brand was saved after purchased by HMV, and as of 2018, still has seven stores trading.[6]
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