Sky News reports that Blockbuster the rental and sales chain is the latest high-street brand to go into Administration.
4,190 jobs are now at risk across its 528 stores. Blockbuster still seem to be honoring gift vouchers for the time being. Sky News quotes a statement from Lee Manning of Deloitte, the firm’s appointed joint administrator:
“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.”
This news follows HMV’s entry into administration just yesterday.