According to industry observers, the dramatic fall in sales of CDs and DVDs, which is triggered by consumers' preference for online downloads, is driving many retailers out of business.
Virgin Megastore France employs 1,000 people and has accumulated a debt of €22 million (£18 million) in the past four years since its troubles began.
Virgin France is not operated by British billionaire founder Richard Branson as it was bought in 2001 by French media-to-aerospace group Lagardere. The chain, which consists of 26 Virgin-branded stores in France is currently owned by private equity firm Butler Capital Partners.
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