THE UK's largest independent music and film retailer last night announced plans to double in size, after a £12m management buyout.
Music Zone founder Russ Grainger has agreed to sell the chain to a management team.
Mr Grainger started Music Zone 20 years ago on a market stall in Manchester. He built the business into a network of 54 stores, from London to Scotland, including ten across the region, that employ about 100 people.
The management team was led by Steve Oliver, supported by equity backers Lloyds TSB Development Capital and debt facilities from the Bank of Ireland.
It plans to expand its store network to 100, averaging 15 stores a year for the next three years, eventually doubling sales to £150m.
The chain reported daily sales of £1m for the first time last Christmas, with like-for-like sales up 17 per cent.
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