Blockbuster goes into administration
BLOCKBUSTER is the latest in a succession of big name high street firms to go into administration.
The DVD rental business announced yesterday that accounting firm Deloitte will take over day-to-day running of its 528 stores.
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Blockbuster
Blockbuster has a store in Gloucester at Northbrook Road, near Eastern Avenue.
It also had a store at The Olympus Centre in Quedgeley, which closed down in May last year.
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Liam Kelch, chairman of Matson and Robinswood Residents' Group, said: "It's really sad news on the back of HMV and Jessops.
"I've been at a job club today and there are jobs out there, but it is definitely not easy by any means."
Deloitte said the firm had been affected by increasing competition from internet-based companies that offer a similar service.
The firm has said it will keep trading while a buyer is sought.
But pressure is on the administrator to find a buyer in a bid to save almost 4,200 jobs.
It comes a day after music store HMV called in the administrators after struggling to compete against internet-based firms.
Blockbuster is the third to fall in 2013 with Jessops being the first a week ago.
Comments
by GoneSledging
Thursday, January 17 2013, 4:22PM
“Funny how all the stores going into administration are the ones that everyone recognises as the "expensive ones". When will these shops learn that times have changed and that people are now aware of what things can be bought for, because they have access to the internet.
People will always be willing to pay slightly more in a store, but the markups these places make are frankly ridiculous.”
by sleepyG
Thursday, January 17 2013, 2:54PM
“shame....... but does this mean there is no point me paying my late returns charge then? :D”