Blockbuster Entertainment files for Administration

[DJ-Daz]

UK entertainment retail is facing another huge blow, with reports that Blockbuster is to enter administration.

MCV sources have informed us that management had already been planning to shut in the region of 150 UK stores over the next six months.

The retailer is understood to be sitting on significant amounts of stock and is currently unable to source much in the way of new releases.

However, the crisis has taken a turn for the worse with reports that the company is set to follow HMV’s lead and appoint an administrator shortly.

The chain currently employs around 4,190 staff and operates 528 UK stores.

http://www.mcvuk.com/news/read/blockbus ... rs/0109388

[YorkshirePud]

i hope my local doesnt close because i go occasionally for new films! i dont enjoy streaming facilities. or their subscriptions

[DJ-Daz]

Has anyone been keeping up with the sales at BB?
I have and they're amazingly pathetic. I can but most of the stuff they have on offer as used, cheaper new.

Same for play.com, just goes to show they really have messed up their pricing and are really paying for it now.

[YorkshirePud]

i havnt been anywhere near my "local" branch as its in another district in liverpool. i usually pop in on way back from town if im in the mood to watch something but thats not often, i would like it to survive. it always did seem busy at the weekend

i just fucking hated them asking do you want this with your film do you want this do you want this

no your sweets are overpriced.

[DJ-Daz]

Blockbusters close 164 stores leaving only 160 in operation.
The rest stay open while administrators try to find buyers.
The staff face almost certain redundancy.

Joint Administrator Lee Manning said in a statement: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the Company for sale.

"We would like to thank the company’s employees for their support and professionalism during this difficult time and we are also grateful for the continued support of customers. We are in discussions with a number of parties interested in purchasing all or parts of the business and will update on progress in due course.”