|Blockbuster to close 72 stores in UK, 452 staff made redundant|
|Posted: 18.11.2013 14:13 by Simon Priest||Comments: 1|
Moorfields Corporate Recovery is the current administrator for Blockbuster in the UK as the ever-troubled rental business once again tries to survive another plunge into financial ruin.
A further 72 stores across Britain will be closed down affecting 452 jobs. These decisions were declared "necessary if parts of Blockbuster are to be saved" and a buyer secured.
This news follows the US branch of Blockbuster closing up 300 stores across North America. Blockbuster has been hit hard by streaming movie services like Netflix and Hulu.
“We must reiterate that, as part of our attempts to turn around the business, today’s decision is necessary if parts of Blockbuster are to be saved and a buyer found," said a spokesperson for Moorfields Corporate Recovery. In January of this year 160 UK Blockbuster sites closed with another 164 in February.