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Further Blockbuster store closures announced 28 November 2013

*In the latest round of store closures, administrators to Blockbuster have today announced a further 30 stores UK have closed, resulting in the loss of 182 jobs. *
Joint administrators Simon Thomas and Nick O’Reilly, of Moorfields Corporate Recovery, have been unsuccessful in finding a buyer despite media reports of interest from some of the UK’s leading supermarkets.

The video games and DVD rental business entered administration in October, despite the turnaround effort by owners Gordon Brothers Europe.

A statement from the administrators said: “Following the marketing process to find a buyer for Blockbuster, no acceptable offers have been received for the business.

“As a result, Moorfields will now seek to oversee an effective phased closure, whilst still exploring any offers for the business as a whole or in part.”

“We are continuing to review the profitability of the portfolio and may have to make further closures over the next couple of weeks.”

The latest round of closures means over 100 Blockbuster stores have now closed since the company entered administration for the second time this year.

On 14 November it was announced 72 stores were to close and over 450 staff were to be made redundant.

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