AOL.com Video - Unions Say Virgin Megastore France Set To File For Bankruptcy

VIDEO:News

Unions Say Virgin Megastore France Set To File For Bankruptcy

Description:Virgin Megastore France, hit by a collapse in CD and DVD sales, is set to file for bankruptcy, threatening 1000 jobs across 26 Virgin-branded stores in France. Union sources said on Tuesday that company officials would lodge a formal request with a Paris commercial court on Wednesday, which will then decide whether the company should be sold, liquidated, or put into administration. The decision came at the end of two days of talks between management and unions, who had also protested the group's (1:00)

Source: IBTimesTV

Tags: ibtimestv , bankruptcy , file , france