03/28/2008 02:45 am ET Updated May 25, 2011

Branson Ditches Virgin Megastores

Sir Richard Branson yesterday severed his last remaining link with the high street, offloading his Virgin Megastore chain at a time when record shops are under unprecedented pressure from the internet and supermarkets.

The sale of 125 stores throughout the UK and Ireland to a management buyout group for an undisclosed sum marks a final retreat from the music industry after more than 35 years.

Read more on The Guardian (U.K.)