Video rental chain Blockbuster goes into administration

Video rental chain Blockbuster goes into administration


High street DVD rental chain Blockbuster is the third major retailer to collapse this year as the company calls in administrators.

Over 4,190 jobs hang in the balance at Blockbusters 528 stores after today’s announcement that the Deloitte has been appointed as administrator.

Lee Manning from Deloitte has highlighted the increased competition the firm has faced from internet based providers as customers switch 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,” Mr Manning stated. Click below for full story - 




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