[Samm]

Blockbuster has gone into administration for a second time, it has been announced.

The DVD and gaming rental chain - which was sold to private equity firm Gordon Brothers Europe earlier this year - will now face further redundancies.



Gordon Brothers Europe said in a statement that it had "striven to turn around the historically loss-making company by restructuring the business, investing significantly in strategic marketing activities and negotiating with the landlords of its retail outlets".

"The company also tried to develop a new digital platform but was unable to broker a licensing deal with Blockbuster UK's parent company in the US," the company's statement continued.

"Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales."

It has been confirmed that there will be 32 redundancies at the retail chain's UK headquarters, but that the remaining 264 stores will continue to trade as usual.

Around 200 of Blockbuster's 528 stores were closed after the original administration announcement, with around half of their 4,000 employees losing work.

A buyer for the chain is currently being sought.

Oh well the last time I went into blockbusters was years ago. I only buy My DVDs from HMV or Amazon

[Josy]

The internet is to blame for this.

[arista]

Originally Posted by Josy

The internet is to blame for this.

It Not Blame


Time Moves On.



Around 2,000 jobs and 264 stores at risk

Read more: http://www.dailymail.co.uk/money/new...#ixzz2j89pCvmj

[Ammi]

..that's very sad..it's also so cheap to buy dvds now, I don't personally know anyone who rents them anymore...

[smeagol]

too expensive and still too expensive they have milked us suckers for years so im not sorry to see them go.
though if you did want to rent a dvd or buy a cd theres nowhere in the city i live in now thats sad