129 of Blockbuster’s 528 stores will close over the coming weeks as administrator Deloitte restructures the company to a ‘profitable core’.
760 Blockbuster employees will be made redundant due to the decision. 31 stores have already been put on notice of closure and customers will be notified in advance of other store closure so they can return outstanding rental items beforehand.
Joint administrator Lee Manning said: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold.
“We would like to thank the company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”
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