THE future of workers at rental firm Blockbuster is uncertain after it became the latest high street casualty to enter administration.
The firm has branches in Roker Retail Park, Houghton, Chester-le-Street, Peterlee and one in Framwellgate Moor, near Durham City.
In total it has 528 stores in the UK, employing almost 4,200 staff.
It is the latest dose of retail woe this month.
Last week saw photography specialist Jessops announced it was going into administration, with music and DVD store HMV following suit on Tuesday.
Both have branches in Sunderland city centre.
Accountants Deloitte will now take over the running of Blockbuster in the hope that a buyer can be found.
Lee Manning, of Deloitte’s Restructuring Services practice, said: “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,”
“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.”
Comments