After a week of mysterious closures and speculation, today Fopp have announced that the company has closed down. We wondered quite where they were finding the money to go as crazy on expansion as they did this year, but Fopp Tottenham Court Road had become a great venue for free gigs in the capital and it will be missed.
A spokesperson for the company said:
It is with great regret that we announce the closure of Fopp. Our store chain is profitable, well regarded and loved by our loyal customers and staff.
However we have failed to gain the necessary support from major stakeholders, suppliers and their credit insurers to generate sufficient working capital to run our expanding business. We would like to thank staff and customers for their support over the past 25 years.