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Reports Suggest Blockbuster To Enter Administration

First HMV, now Blockbuster.

Reports have emerged that another high street chain – video (and video games, of course) retailer Blockbuster – is about to (or, indeed, already has) enter administration. It’s a worrying time for the UK economy, especially the brick and mortar stores.

Sky News – the first to report this – is claiming that the company has “collapsed” and has called in the administrators today. Another source says that there were already plans to close 150 stores over the next six months.

Blockbuster - now in the hands of administrators.
Blockbuster is apparently stuck with huge amounts of stock it’s not finding easy to shift and is unable to attract new releases.

Sky says that Deloitte are the administrators. “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,” said a spokesperson.

“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 is in contrast to the situation at HMV, where gift cards are not being honoured.

The company currently employs around 4,000 people across 500 stores.

It’s been a terrible week on the high street – giant HMV entered administration yesterday leaving very few places to pick up video games, music and movies outside of online.

  1. Taylor Made
    Since: Oct 2011

    It’s a sad day! HMV now blockbuster but the again there is like one blockbuster here in birmingham

    Comment posted on 16/01/2013 at 14:28.
    • wolf-OF-chaos
      Since: Feb 2012

      Yeah, i can testify to that.

      Comment posted on 16/01/2013 at 15:51.
  2. bigbaldwolf
    Since: Mar 2012

    I was suprised that HMV went before Blockbuster when the news broke. It’s another sad day for those affected but it’s hardly a suprise. I haven’t rented anything from them in years

    Comment posted on 16/01/2013 at 14:31.
  3. Amphlett
    Since: Jul 2009

    Blocky B’s has been hanging on for several years and I’m amazed they’ve lasted this long. They were great in the late 90’s and in to the 00’s, but their business plan has been trumped for a good number of years. If I want a film then I can turn on Sky, Netflix (or any one of the number of streaming services), buy a DVD/BR or just get a torrent.

    I feel sorry for the store staff.

    Comment posted on 16/01/2013 at 14:36.
    • Amphlett
      Since: Jul 2009

      Ha ha, just noticed that one of my open tabs is Amazon.co.uk. Coincidence?

      Comment posted on 16/01/2013 at 14:52.
  4. Jumping Monks
    Since: Jan 2009

    I buy quite a lot of games from blockbuster, me and all my friends do in fact, as I find they offer really quite good prices on their games. I’ll be sad to see these guys go.

    Comment posted on 16/01/2013 at 14:39.
  5. KeRaSh
    Since: Nov 2009

    The recent Blockbuster themed South Park episode hit the nail on the head. :/

    Comment posted on 16/01/2013 at 14:39.
    • 3shirts
      Since: Aug 2008

      South Park is absolutely genius these days. The show has really matured with the writers and while they still enjoy childish humour occasionally, it’s one of the best satire shows on TV

      Comment posted on 16/01/2013 at 14:52.
      • KeRaSh
        Since: Nov 2009

        The first half of this season (and the last few seasons in general) were pretty crappy but it really picked up after the summer break. It’s because of the good episodes that I keep coming back to it. I know I’m out of the loop when I don’t get the South Park references but they are almost always spot on. It really is a great show that many people disregard because it the early days it wasn’t that satirical.

        Comment posted on 16/01/2013 at 15:58.
      • The Lone Steven
        Never heard of him.
        Since: May 2010

        It’s excellent apart from the odd crap episode such as Towliee that was just plain weird. :) I plan to pick up every series in the near future. The animation was rubbish during the first few series but it improved and retained the style it had. Not many cartoons do that. I suspect it won’t go downhill but will end up retiring when the creators feel that they can’t do anything more with it.

        Comment posted on 16/01/2013 at 17:46.
  6. 3shirts
    Since: Aug 2008

    The writing was on the wall after Bob Holness died

    Comment posted on 16/01/2013 at 14:48.
    • Amphlett
      Since: Jul 2009

      I’ll have an A please Bob.
      What A is the term used for a rescue mechanism for insolvent companies and allows them to carry on running their business?

      Comment posted on 16/01/2013 at 15:01.
  7. Tuffcub
    On the naughty step.
    Since: Dec 2008

    http://www.bbc.co.uk/news/business-21047652 – BBC confirmed it’s in admin.

    Comment posted on 16/01/2013 at 15:02.
  8. LTG Davey
    Since: Aug 2008

    *sniff* not Blockies! The only place I use to buy games more is Amazon.
    Then again, that previous sentence speaks for itself really doesn’t it? Where possible, people choose to shop online now.

    Comment posted on 16/01/2013 at 15:19.
  9. stage1
    Since: Feb 2012

    Blockbuster should have read the market and set up their own On Demand app.
    Ultimately, they should have been the first to do it.

    Comment posted on 16/01/2013 at 15:47.
  10. Mike
    Since: Oct 2008

    No surprises here. They have been on the ropes for years and narrowly avoided administration a year or two back.

    Comment posted on 16/01/2013 at 15:52.

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