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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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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

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