Blockbuster UK to close 25% of its store network
The decision to close 129 of 528 stores across the UK, in addition to 31 which had already been put on notice of closure, was confirmed by administrators Deloitte.
Last week, it was announced the rental DVD firm had gone into administration. Blockbuster’s Aussie operation is not affected.
The UK closures will come into effect over the coming weeks as part of a “phased closure” and there will be a number of promotions across affected stores.
Staff in those stores affected by the closures will be facing redundancy, or around 1000 jobs.
“The store closure plan is an inevitable consequence of having to restructure the Company to a profitable core which is capable of being sold,” said Lee Manning, Joint Administrator.