Jobs saved at Blockbuster

Troubled DVD and games rental chain Blockbuster has been bought, saving 2,000 jobs and 264 UK stores.

British jobs saved as Blockbuster is bought

Rental chain Blockbuster was bought by a subsidiary of Gordon Brothers, TS 1973 Investment Holdings Limited, in a move which has saved 2,000 jobs and 264 UK stores.

A spokesman said the stores across the UK and Channel Islands will continue to operate on a "business as usual" basis.

The deal has secured "substantial investment" for Blockbuster from Gordon Brothers, which said it intends to "fully utilise the existing trading platform, powerhouse brand and extensive customer database" of the high street chain.

The company will focus on enhancing the customer experience through the use of new product offerings, new technologies and better basic retailing helping Blockbuster become a viable business once again.

– Spokesman

Read: Troubled DVD and games rental chain Blockbuster is purchased.

Read: Difficult times for Britain's High Streets.

Sale of stores gives Blockbuster a 'future in the UK'

The joint administrators of Blockbuster have confirmed the sale of 264 stores to Gordon Brothers Europe, which is expected to save around 2,000 jobs. A statement said:

Having identified a profitable core portfolio of stores we are pleased to have achieved this sale for creditors.

Together with the previously announced store sales more than half of the original estate has been secured for ongoing use.

This transaction provides Blockbuster a future in the UK and we owe a special vote of thanks to all the Company's employees, suppliers and customers for helping us rescue the business.

– Lee Manning, Joint Administrator

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