Plymouth Blockbuster stores escape axe as administrators announce closures
TROUBLED DVD and games rental chain Blockbuster is to shut 164 stores – but not the two in Plymouth.
The chain, which went into administration last month, today announced a phased closure of another raft of shops – it had already shut 160 last month.
But remaining stores, including the Plymouth branches in Mutley Plain and Union Street, will continue to trade as usual whilst administrators progress negotiations with bidders.
The chain blamed the impact of the internet for damaging turnover when it called in administrators Deloitte.
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The had a whopping 528 stores across the UK employing 4,190 people.
But staff in the stores earmarked for closure will now face redundancy.
An employee helpline has been set up to help staff find other jobs.
Lee Manning, joint administrator, said: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the company for sale.
“We would like to thank the Company’s employees for their support and professionalism during this difficult time and we are also grateful for the continued support of customers.
“We are in discussions with a number of parties interested in purchasing all or parts of the business and will update on progress in due course.”