Digital Spy

Search Digital Spy
8

Movies News

Blockbuster announces closures and 427 job losses

By
Blockbuster is to close a further 62 stores across the UK, with the loss of 427 jobs.

The DVD and games rental chain went into administration in January, with Moorfields Corporate Recovery stating that the closures had to take place after no buyer was found.

Blockbuster Video

© PA Images / Ron Heflin/AP


The remaining 91 stores are now expected to close, with potential job losses of 808 jobs, the administrators stated.

Blockbuster went into administration for a second time in October, with online film streaming services such as Lovefilm and Netflix taking over from rental companies in recent years.

The company is currently owned by private equity firm Gordon Brothers Europe. It previously had 528 stores across the country.

Several high street chains have struggled or closed down in recent years, including Jessops, HMV and Comet.

You May Like

Comments

Loading...