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Blockbuster to close 129 stores nationwide

129 Blockbuster stores are to close

129 Blockbuster stores are to close

Administrators have announced 129 Blockbuster stores will close nationwide.

Deliotte stated they will continue to review the profitability of the business, and announcements of further closures may be made in coming weeks.

It leads to further uncertainty over the future of jobs in Harrogate’s Cold Bath Road and Starbeck Blockbuster stores.

Details of the stores which are closing down in coming weeks have not been made public as yet.

An employee helpline is in place, and stores will remain open as normal. Customers will be notified in advance of closures.

Lee Manning, Joint Administrator, added: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the Company to a profitable core which is capable of being sold. We would like to thank the Company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”

Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, the business advisory firm, were appointed Joint Administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited who trade as Blockbuster, the DVD and video games rental Company on January 16 2013.

 
 
 

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