TWO Wearside video rental stores have escaped the axe as administrators try to cut costs at collapsed national chain Blockbuster.
The firm’s stores in Sunderland and Houghton are not among the 72 closures nationwide announced today.
But five jobs are to go as the branch in Beech Road, Framwellgate Moor, Durham, shuts its doors.
Blockbuster entered administration for the second time this year last week. Administrators at Moorfields Corporate Recovery have been in talks with potential buyers for parts of the business but said they had been left with no choice but to close 72 of its 264 outlets nationwide, with the loss of 452 jobs. Staff have been waiting since Thursday to learn their fate.
Joint administrators Simon Thomas and Nick O’Reilly said: “The decision to close some stores has not been taken lightly.
“However, the remaining stores remain open for business and we are continuing to market the business for sale as a going concern. Currently we are offering attractive discounts which are generating additional sales.
“We want to be as open and transparent as possible throughout this process and will hopefully be in a position to provide staff and customers with another update very shortly.”