Richer Sounds, a UK retailer of hi-fi and home cinema goods, has announced that it has acquired the Empire Direct brand and website from the bankrupt company’s administrators.
In a statement, the 30-year-old company says that despite “challenging times”, its business model has proved resilient to the downturn.
Richer Sounds management says it sees the purchase of the EmpireDirect.co.uk website from the administrators KPMG as “an opportunity to deliver their low-price business model and buying power to a greater number of customers”.
Empire Direct went into administration last month – a casualty of the current economic slowdown due to slowing consumer spending and credit issues.
