Blockbuster calls in administrators
DVD rental chain Blockbuster has gone into administration.
More than 500 stores, including an outlet in Three Bridges, are at risk of closure.
Administrators Deloitte said the firm, which employs 4,190 staff across the UK, had suffered from increased competition from internet providers.
Lee Manning, Joint Administrator and Partner in Deloitte’s Restructuring Services practice, said: “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 the business 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.”
Blockbuster’s collapse is the third high street casualty of 2013, with HMV and Jessops also calling in the administrators in recent days.
Comet also went into administration late in 2012.
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Tuesday 18 June 2013
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