UK Retailer Blockbuster to Close All Remaining Stores This Weekend
Posted by Thomas Whitehead
The end of an era
It's been clear in recent years that the high street environment is becoming increasingly challenging in the entertainment market, with video games retail enduring its share of problems. Major U.S. retail groups have battled dropping revenues — perhaps eased with recent hardware releases — while GAME had a spell in administration in the UK before finding new owners. Although not exclusively a games retailer, confirmation of the demise of Blockbuster in the UK sees a previous source of game rentals and purchases disappear.
Blockbuster UK initially entered administration in January 2013 before a takeover by Gordon Brothers Europe — yet the company entered administration again in late October, with its traditional business of renting movies and games having failed to successfully transition to conventional sales. Its been an exceptionally difficult year for the brand, with hundreds of store closures leaving just 91 outlets and 808 staff remaining. Unfortunately, the administrators have now conceded defeat, informing BBC News that all remaining stores will close this weekend.
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.
All stock in the stores will be sold at a 90% discount this weekend; we pass our best wishes to all staff affected.