News Blockbuster

30 Blockbuster stores across the UK are set to close after the stores administrators fail to find a buyer.

Today’s announcement means that a further 182 people will lose their jobs. However the Wrexham store will continue to remain open and trade.

Store closures include Blockbusters in Colwyn Bay, Newcastle and Exmouth.

Joint Administrators Simon Thomas and Nick O’Reilly of Moorfields Corporate Recovery LLP have issued the following statement: “Following the marketing process to find a buyer for Blockbuster, no acceptable offers have been received for the business. As a result, Moorfields will now seek to oversee an effective phased closure, whilst still exploring any offers for the business as a whole or in part.

“As part of this process, we are today regretfully announcing the closure of a further 30 stores across the United Kingdom and the loss of 182 jobs.

“It is unfortunate that we have been unable to secure a buyer to date, and therefore we have had to take the decision to make further store closures. We are continuing to review the profitability of the portfolio and may have to make further closures over the next couple of weeks. We appreciate this is a difficult time for all concerned and would like to thank staff for their ongoing cooperation.

“In addition, we are making every effort to support customers and to date issued over 30,000 refunds for goods and services not received. We are enormously grateful for their continued loyalty.”

Just a few weeks ago we reported that 72 Blockbuster stores up and down were set to face closure. This is the second time this year that the store has been in administration. In January 160 of the Blockbuster stores were closed, with a further 164 that were closed in February.

Blockbuster is one of many big named High Street stores that has been in trouble over the past years, joining names such as Comet, Staples, Jessops and HMV.