Although any time would be terrible for Blockbuster to enter administration, they couldn’t have picked a worse time than how close they were to HMV also entering the administration process. This obviously caused a lot of issues for the once superior DVD/Game rental company who have recently been holding ‘closing-down sales’ to generate revenue for the company.
Administrator Deloitte has recently stated though that another 164 stores are going to be closed down in “the coming weeks” and that all staff will lose their jobs. Deloitte confirmed that these stores will be notified that they will be closing, so you know when to return goods, but that they will also be holding closing down sales themselves.
The total amount of stores closed down to date is now 324 stores which takes with it a large proportion of the 4190 staff which were once employed by the company. To put the store closures in another statistic for you to easily digest, more than 60% of stores have closed down since January.
The remaining 204 Blockbuster stores on the other hand could still be saved as Deloitte confirms that they are in discussions with “a number of parties interested in purchasing all or parts of the business”.
Hopefully the company can be saved soon, just to save the remaining jobs of those affected if anything…
[Source: Eurogamer]
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