Blockbuster goes back into administration; 32 redundancies expected

Retail chain Blockbuster is to go into administration for the second time this year.

Its owner, private equity firm Gordon Brothers Europe, said in a statement that its had “striven to turn around the historically loss-making”, but the months since the acquisition have coincided with a period of "poor trading performance across both rental and retail sales”.

There will be 32 redundancies at Blockbuster’s UK headquarters, but its remaining 264 stores will continue to trade while a buyer is sought.

Blockbuster collapsed for the first time in January after losing business to firms such as Netflix and LoveFilm, who offer online streaming and film rentals through the post.