Virgin Entertainment Group is to re-unify its entire UK High Street operations under the Megastores brand, after selling off 41 stores to Australian retailer Sanity.

It has agreed a seven-figure deal with Sanity to hand over part of its loss-making V Shop business and is now putting in place a rapid conversion programme to have the remaining 60-odd stores in the chain rebranded as Megastore Xpress stores by mid-November.

Virgin Retail managing director Andy Randall believes the move to a ...