The BBC is reporting that Blockbuster will be closing 72 of its remaining stores, bringing the total number of locations down to 192. At the beginning of the year there were 528 stores still in operation. This also means that a further 452 jobs will be lost as a result, which is bad at any time of the year but even more so with Christmas just around the corner.
The move comes after Moorfields Corporate Recovery, the administrator in charge of helping Blockbusters exit administration and avoid closure, stated that this step was required to make the business as a whole be viable for any potential buyers. A list of which stores will be closed has not yet been made available.
We wish the best of luck to all affected and hope they find employment elsewhere soon.
Source: BBC News
3shirts
A shame for those losing their jobs but Blockbuster are one of those companies that rested on its laurels and paid the price (bit like Woolworths and HMV). They should have seen the way the industry was going and moved with it rather than burying their head in the sand.
cam the man
It’s a shame, especially this time of year.
Scythegpd
Always seems to happen just before Christmas!
Wish them luck in finding new jobs.
DividSmythe
First of all I’m sorry to hear. Unfortunate for the employees but Blockbuster has failed to keep up with the times. I’m surprised there’s any shops still in existence. Netflix and Now tv is far to easy to use. As well before that I saw it easier to buy DVD’s or BD’s from Amazon.
SLUMMO316
Feel sorry for the staff that are losing their jobs but blockbuster didn’t learn from there mistakes of everything being overpriced. The games are so expensive in there. If they was at least inline with games prices they might do a bit better due to them being open late. I often dropped into my local blockbuster on Friday night but very rarely bought anything because of the prices
matthangzhou
The old blockbuster near me is still empty. No one even to move in…poor buggers.
Hoping those affected find work soon.