- 13 updates
Blockbuster is to make 760 of its 4,190 employees redundant, its administrator confirmed today.
Thirty-one stores have already been put on notice of closure, and a number of closing-down sales announced.
Blockbuster's administration came just a day after music and entertainment chain HMV went under, following dismal Christmas sales.
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:
Administrators to Blockbuster have said they plan to close 129 stores over the coming weeks, in addition to 31 which had already been put on notice of closure.
During this time there will be a number of closing down promotions across the stores.
More than 4,000 jobs are at risk after DVD rental chain Blockbuster called in the administrators yesterday.
Retail Expert Kate Hardcastle told ITV Daybreak that the problem lies with the 'evolution of the high street'.
She said it had created a gap between online retailers and 'lazy retail'.
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:
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:
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:
Latest ITV News reports
Blockbuster are the third company in 2013 to call in the administrators, but how did the drama unfold at the DVD and games rental firm?