Shutdown for 31 Sanity shops

Administrator BDO Stoy Hayward is shutting 31 of the 106 Sanity stores and has begun final discussions with parties interested in the business.

The retailer, registered as Our Price Entertainment, but trading as Sanity, went into administration in November. About 160 Our Price staff will be affected by the closures.

It is unlikely that another music retailer will snap up the ill-fated store group.

Market leader HMV is understood not to be interested, while independents Fopp and Music Zone said they do not want the chain. Music Zone managing director Russ Grainger said: 'It's like flogging a dead horse.'

A BDO Stoy Hayward spokeswoman said: 'We are presently in negotiations with a number of parties, who are either looking at the business or the leasehold properties.'

The stores are to close because of a lack of interest in the doomed outlets and to 'retain value in the core business,' the spokeswoman said.