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Daily Echo

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Blockbuster video goes into administration

Blockbuster in Portswood

Blockbuster in Portswood

Daily Echo: Photograph of the Author

Luke Tugby, Senior reporter / / Business

Published / Business

Dozens of Hampshire jobs are at risk after Blockbuster became the latest high street name to plunge into administration.

The DVD and games rental company, which has 12 stores in the Daily Echo region, has appointed administrators after a period of poor trading.

The news comes after HMV took the same measures on Tuesday.

Staff at Blockbuster stores in Southampton, Eastleigh, Winchester, Fareham, Gosport and Ringwood now face uncertain futures as administrators Deloitte attempt to find a buyer for the firm.

The company, which has its main headquarters in Uxbridge, employs almost 4,200 staff in 528 stores across the UK.

Lee Manning, from Deloitte, said: “In recent years Blockbuster has faced increased competition from internet based providers along with the shift to digital streaming of movies and games.

“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

“The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.

“During this time gift cards and credit acquired through Blockbuster's trade-in scheme will be honoured towards the purchase of goods.”

It comes just a day after HMV also called in the administrators, following in the recent footsteps of Jessops, Comet and JJB Sports.

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