Shropshire Blockbuster branches at risk as firm enters administration
Entertainment retail chain Blockbuster which has three stores in Shropshire has become the latest UK retailer to enter administration just days after HMV and Jessops.
Blockbuster UK, which has headquartered in Uxbridge, employs almost 4,200 staff and operates from 528 stores including branches in Telford, Shrewsbury and Whitchurch.
The first Blockbuster store opened in the UK in Walworth Road, London in March 1989. In recent years Blockbuster has faced stiff competition from the growth of online film rental companies such as Netflix and Lovefilm.
Accountancy firm Deloitte has been appointed to handle the insolvency process.
Lee Manning, joint administrator for Deloitte, 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."
