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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Another big high street drama - Blockbuster the latest to go

by - Former Business Editor

In what is now boiling up to be a disastrous start to the year for retail, Blockbuster has just announced it has also collapsed into administration, putting 4,190 jobs at risk from more than 500 stores around the country.

Blockbuster
Deloitte has been appointed as Blockbuster's administrators Credit: Dave Thompson/PA Archive

The administrators cite “increased competition from, internet based providers along with the shift to digital streaming of movies and games."

That has made it harder and harder for the company to stay afloat. But they insist the core of the business is still profitable.

That means it is possible that buyers for some of the business can be found. Even if so, it is likely that many stores could close, and with that, many jobs are certain to go.

Deloitte appointed as Blockbuster administrators

Deloitte has been appointed administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited who trade as Blockbuster, the DVD and video games rental Company.

In recent years Blockbuster has faced increased competition from, internet based providers along with the shift to digital streaming of movies and games.

We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of thebusiness as a going concern. During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.

– Lee Manning from Deloitte

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