British independent music retailer Fopp has bought 67 stores from administrators of the beleaguered Music Zone chain.

The outlets, plus Music Zone's headquarters and warehouse in Stockport, England and its warehouse in Denton, have been sold for an undisclosed sum, the company's administrators Deloitte said today (Feb. 5).

In a statement, Deloitte partner Bill Dawson commented, "We are pleased with the disposal to Fopp, and wish them every success in the future. This represents a much better outcome for creditors and other stakeholders than a piece-meal disposal."

The deal is the first sign of good news to emerge from Music Zone since it was placed into administration on Jan. 3. Within two weeks, joint administrators Dawson and Nick Dargan shuttered 31 stores, causing 325 job losses. Matters worsened when Deloitte admitted on Jan. 25 that they wouldn't find a home for the company and effectively called time on the business, resulting in 800 job cuts.

Deloitte says that the new deal accounts for "substantially all" the Music Zone stores which had been open at the time of the Jan. 25 announcement.

The demise of Music Zone, which until recently was the No. 3 ranked music specialist in the U.K., should confirm Fopp as a heavyweight contender in the U.K. High Street music retail sector.

Fopp, which began life in Glasgow, Scotland, in 1981, operated 31 stores prior to the deal and accounted for 1% of U.K. album expenditure in 2005, according to labels body the BPI.

The music merchant is headed by chairman and founder Gordon Montgomery, managing director David Pryde and finance director Peter Hill.