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Blockbuster stores to close by Monday

Blockbuster's 91 outlets will cease operating by Monday, with the loss of more than jobs.

A Blockbuster store
More than 800 jobs will go when 91 Blockbuster stores close

Blockbuster is to shut down all its remaining stores after administrators were unable to find a buyer for the rental and DVD chain.

The 91 outlets will cease operating by Monday, with the loss of 808 jobs. All remaining stock will be sold by Sunday with discounts of up to 90 per cent.

Blockbuster had 264 stores and a 2,000-strong workforce when it went into administration in October.

Moorfields Corporate Recovery were appointed joint administrators of TS Operations Limited, parent company of Blockbuster.

The collapse came less than a year after the DVD operation crashed into insolvency in January 2013, when it was rescued by private equity group Gordon Brothers.

It had a number of stores across the region, including Shirley, Acocks Green, Harborne, Sutton Coldfield, Willenhall, Wolverhampton and two in West Bromwich, all face an uncertain future.

Administrators at Moorfields Corporate Recovery said: “It is with regret that we have to make today’s announcement, we appreciate this is a difficult time for all concerned and would like to thank staff for their professionalism and support over the past month.

“Unfortunately, we were unable to secure a buyer for the group as a going concern and as a result had to take the regrettable action to close the remaining stores.”

It followed the announcement that 62 stores would close, with 427 job losses, following a spate of closures since October.

At the start of the year Blockbuster had 528 stores employing 4,190 staff.

 
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