DCSIMG

Outlook bleak for staff at Sunderland Blockbuster store

Blockbuster

Blockbuster

TIME is running out for workers at a city DVD rental store.

The Blockbuster outlet in Monkwearmouth is not among the latest list of 62 stores closures announced this week.

But administrators have warned that unless a buyer can be found soon, the remaining 91 branches are also doomed. DVD and game rentals of DVDs will end this weekend.

Blockbuster entered administration three weeks ago. The firm had 264 stores and a 2,000-strong workforce nationwide when it went into administration, but now seems likely to vanish from Britain’s High Streets altogether.

Administrators, from Moorfields Corporate Recovery, have already overseen the closure of more than 100 stores as part of the administration process.

Blockbuster was rescued in March from an earlier administration by private equity group Gordon Brothers Europe, but has suffered poor trading across both rental and retail sales.

The business has been hit hard by competition from supermarkets as well as the rise of online rentals.

Joint administrators Simon Thomas and Nick O’Reilly, of Moorfields Corporate Recovery LLP, said: “We are announcing the closure of a further 62 stores across the United Kingdom and a further 427 jobs as part of the effective phased closure as announced on November 28.

“Unfortunately, we have still not received any acceptable offers so, as a result, we may be forced to close the remaining 91 stores affecting 808 employees.”

 

Comments

 
 

Back to the top of the page