129 Blockbuster stores to close
Administrators for Blockbuster have confirmed plans to shut 129 of the entertainment retailerÂ’s 528 stores over the next few weeks as part of a phased closure.
This is in addition to the 31 stores which have already been put on notice of closure following the announcement last week that the company had entered administration. The closures will result in the loss of 760 jobs at the chain which employs 4,190 staff.
The administrators said they will continue to review the profitability of the store portfolio which could result in further closures being announced in the coming weeks.
Lee Manning, of administrator Deloitte, 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."
The administrators added that an employee helpline and an "employee assistance programme" were in place to help staff find other jobs.
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