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Fears for thousands more jobs as Blockbuster appoints administrators
ANOTHER 4,190 high street jobs are at risk after rental business Blockbuster appoints administrators.
It is the latest high street chain to appoint administrators, after HMV yesterday, hot on the heels of camera retailer Jessops last week and Comet before Christmas.
Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, the business advisory firm, have been appointed joint administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited, which trade as Blockbuster, the DVD and video games rental Company.
Mr Manning said: “In recent years Blockbuster has faced increased competition from, internet based providers along 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.
“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.”