Wednesday, January 16, 2013
Breaking News: Blockbuster calls in administrators
No even the time to publish the post related to HMV yesterday and today there is yet another announcement. Yet again the latest high street casualty is related to the same trend in customer movie consumption and the shift towards online consumption.
This time the big name is Blockbuster UK. The chain has been in trouble these last few years with more people switching to only movie consumption and the credit crunch, however the chain still had 528 stores and employs 4,190 staff.
Blockbuster UK’s announcement comes just after the announcement of HMV which also fell into administration and Jessops which closed doors just last week.
As usual administrators will try to get the most of out the business and try to secure the jobs were possible and pay off as much of the creditor balances as possible.