Blockbuster administration - Exmouth store threatened?

16:58 16 January 2013

**********

**********

Archant

Blockbuster goes into administration - a victim of the internet business.

MOVIE rental giant Blockbuster UK has gone into administration, it was announced today (Wednesday).

There is no information as yet on how individual stores – including the one in Exmouth - will be affected.

Partners at Deloitte have been appointed as joint administrators to Blockbuster Entertainment Limited and Blockbuster GB Ltd, which who trade as Blockbuster, the DVD and video games rental company.

The company has 528 stores across the UK employing 4,190 staff.

Lee Manning, joint administrator and partner in Deloitte’s Restructuring Services, said in recent years Blockbuster had faced increased competition from the internet with the shift to digital streaming of movies and games.

“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors,” he said.

“The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern. During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.”

0 comments

Other News Stories

10 minutes ago

An Exmouth mum celebrated her 50th birthday by raising funds for a cancer charity.

Read more
28 minutes ago

Want to win dinner for two at North Devon Street Food market? Enter our competition here.

Read more
09:00

Bideford Rugby Football Club pitch will make the perfect landing pad for emergency helicopters

Read more

There will be plenty of festive cheer in Bideford as the businesses put on a late night shopping event.

Read more
08:48

Bideford’s brand new Lidl store is set to open in Clovelly Road this week with some special offers for customers.

Read more

A Honiton church is set to light up with a festive glow as the town prepares to hold it’s annual Christmas tree celebration.

Read more
06:30

An auction of seven paintings created by Budleigh Salterton’s adopted son Reg Varney have raised vital funds for charity.

Read more
06:26

PegasusLife insists plans will reduce surface water by 50 per cent

Read more
Yesterday, 19:27

Ottery Gardening Club will fold at the end of December after 41 years of operating.

Read more
Yesterday, 16:24

Sighting was only the sixth ever recorded in the UK – and the first in England

Read more

Local Weather

Overcast

Overcast

max temp: 9°C

min temp: 9°C

Most Read News

Place a family notice

Family Notices 24

Newsletter Sign Up

Find a job in Devon



Local business directory

Devon's trusted business finder

FFind planning applications