Blockbuster closures confirmed (From Wilts and Gloucestershire Standard)

Blockbuster closures confirmed

5:07pm Saturday 19th January 2013 in News

THE joint administrators dealing with Blockbuster have confirmed plans to close 129 stores over the coming weeks as part of a phased closure.

Staff at all stores, as well as those at the 31 branches nationwide that had already been put on notice of closure, will be facing redundancy.

The closures are not taking place with immediate effect and the company said staff would receive help to find new jobs.

Lee Manning, joint administrator with Deloitte, added: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the Company to a profitable core which is capable of being sold.

"We would like to thank the Company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”