Blockbuster to close 30 more stores
Administrators for collapsed entertainment retailer Blockbuster have announced the closure of a further 30 stores and the loss of 182 jobs.
Joint administrators Simon Thomas and Nick O’Reilly of Moorfields Corporate Recovery 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.
“As part of this process, we are today regretfully announcing the closure of a further 30 stores across the United Kingdom and the loss of 182 jobs.”
Never Miss a Retail Update!To support employees affected by the store closures, Moorfields is listing job vacancies for a number of leading retailers. In addition, the firm has issued over 30,000 refunds to customers for goods and services not received.
The administrators added: “We are continuing to review the profitability of the portfolio and may have to make further closures over the next couple of weeks. We appreciate this is a difficult time for all concerned and would like to thank staff for their ongoing cooperation.”
