160 Blockbuster stores to close

Blockbuster's administrators have confirmed they will close 129 stores, in addition to the 31 already announced. The company has 528 stores employing 4,190 staff.

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Customers to be notified of Blockbuster store closures

Customers will be told if their local Blockbuster store is closing so they can return their rentals beforehand.

Deloitte, appointed as administrators on Wednesday, said stores will remain open for business as usual until this time. Lee Manning, joint administrator said:

The store closure plan is an inevitable consequence of having to restructure the Company to a profitable core which is capable of being sold.

We would like to thank the Company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.

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Your tweets: Why you still use Blockbuster

Our Business Editor Laura Kuenssberg asked her Twitter followers whether they still used Blockbuster. Here is a selection of tweets from people who still use the store:

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Blockbuster administration will 'damage' confidence in retail sector

With 140 UK retailers already on our ‘critical’ watchlist, and our recent research highlighting over 13,700 retailers experiencing 'significant' distress in the 11 weeks to 17 December 2012, a 35% increase from the third quarter, news of the administration of the third major retailer in less than a week will create a serious new year hangover for landlords across the country and employment in the sector.

It can also only serve to damage consumer confidence in the retail sector further in the months ahead.

– Julie Palmer, Partner at business recovery specialist, Begbies Traynor

Your tweets: Why you stopped using Blockbuster

Our Business Editor Laura Kuenssberg asked her Twitter followers whether they still used Blockbuster. Here is a selection of tweets from people who stopped using the store:

Labour: 'Defeatist' to write off High Streets

It is very sad to see another big name on the High Street in severe difficulty - this time Blockbuster. As I said yesterday, we need a proper industrial strategy to promote multichannel retailing, combining online trade with vibrant High Streets.

This has been a grim week for the High Street but those who write off our High Streets are defeatist and mistaken.

The key is for government, business and communities to work together in partnership to change and adapt our High Streets for this new era. When thousands of jobs are put at risk, it is not for us to think what we can't do, but to ask what we can do to help resolve the situation.

– Chuka Umunna MP, Shadow Business Secretary

Tweeters react to Blockbuster going into administration

Our Business Editor Laura Kuenssberg asked her Twitter followers whether they still used Blockbuster and what they thought of the store. Here is a selection of the tweets she received:

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