Blockbuster To Shut Another 164 Stores
More Blockbuster stores are to close as the company continues to struggle whilst in administration with Deloitte, the administrators, announcing it will close a further 164 stores.
The closures will be phased over an unspecified period of time with closing down promotions run in their final days. This takes the tally up to 324 stores for closure, leaving around 160 outlets remaining – all of which will, currently, remain open while administrators negotiate with potential buyers.
Joint Administrator Lee Manning said in a statement: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the Company for sale.
“We would like to thank the company’s employees for their support and professionalism during this difficult time and we are also grateful for the continued support of customers. We are in discussions with a number of parties interested in purchasing all or parts of the business and will update on progress in due course.”
Our thoughts and wishes go to those affected by the closures.