Don't miss a story sign up to Exmouth Journal's FREE daily newsletter CLICK HERE

Blockbuster administration - Exmouth store threatened?

16:58 16 January 2013

**********

**********

Archant

Blockbuster goes into administration - a victim of the internet business.

MOVIE rental giant Blockbuster UK has gone into administration, it was announced today (Wednesday).

There is no information as yet on how individual stores – including the one in Exmouth - will be affected.

Partners at Deloitte have been appointed as joint administrators to Blockbuster Entertainment Limited and Blockbuster GB Ltd, which who trade as Blockbuster, the DVD and video games rental company.

The company has 528 stores across the UK employing 4,190 staff.

Lee Manning, joint administrator and partner in Deloitte’s Restructuring Services, said in recent years Blockbuster had faced increased competition from the internet with the shift to digital streaming of movies and games.

“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors,” he said.

“The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern. During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.”

0 comments

Other News Stories

Yesterday, 16:06
The Range is now open at Exmouth's Liverton Park much to Captain Range's delight. Ref exe 25-16SH 9725. Picture: Simon Horn.

Pictures of the new store

Read more
Yesterday, 16:12

Fly tippers could face fixed penalties of £400 under new powers approved by East Devon District Council.

Read more
Yesterday, 15:21
Item stolen from a home in Exton.

Police are appealing for information after a burglary at a property in Exton.

Read more
Yesterday, 13:50
Ian MacQueen, chairman of Exmouth Chamber of Trade and Commerce. Picture by Alex Walton. Ref exe 8104-47-11AW

The chairman of Exmouth Chamber of Commerce says businesses will want to see market stability and political clarity, after the vote by the UK to leave the EU.

Read more
Yesterday, 13:22

The chairman of Budleigh Salterton Chamber of Commerce has called on residents to support local shops, following the Leave vote in the EU referendum.

Read more
Yesterday, 12:30
Active Mums Cycling project

Mums in Exmouth are jumping on their bikes in order to encourage women to increase the amount they cycle for leisure and active travel.

Read more
Yesterday, 09:32
The EU Referendum results are in. Picture: AP Photo/Vadim Ghirda

In the wake of Britain voting to leave the European Union this morning, the leader of East Devon District Council (EDDC) says he ‘trusts the electorate’.

Read more
Yesterday, 08:56
MEP Julie Girling.

Julie Girling and Molly Scott-Cato both released statements following the EU referendum result.

Read more
Yesterday, 08:52
The EU Referendum results are in. Picture: AP Photo/Vadim Ghirda

Hugo Swire MP said people must work together to secure the best deal for Britain, following David Cameron’s announcement that he will step down as PM.

Read more
Prime Minister David Cameron speaks outside 10 Downing Street, London, with wife Samantha where he announced his resignation after Britain voted to leave the European Union in an historic referendum which has thrown Westminster politics into disarray and sent the pound tumbling on the world markets. Picture: Lauren Hurley/PA Wire

David Cameron has announced he will quit as Prime Minister by October after a humiliating defeat in the referendum which ended with a vote for Britain to leave the European Union.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 17°C

min temp: 13°C

Most Read News

Great British Life

Great British Life

Useful Links

Advertise in the Paper
Submit a Story
Subscriptions Order
Competitions
Photo Orders
Family notices
iwitness24
Google Plus
Facebook
Twitter
Reader Travel

Family Notices 24

Read Online

Image
Read the Exmouth Journal e-edition E-edition

Newsletter Sign Up

Local business directory

Exmouth's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications