Blockbuster calls in administrators again
PUBLISHED: 09:57 01 November 2013 | UPDATED: 09:57 01 November 2013
Staff at Exmouth’s Blockbuster store are again facing an uncertain future, after the rental chain announced it is entering administration for the second time this year.
The store, in the Magnolia Centre, is one of 264 Blockbuster outlets which escaped closure in March, when the chain, which entered administration in January, was bought by private equity firm Gordon Brothers Europe.
However, Gordon Brothers has now said Blockbuster will re-enter administration, blaming a patch of poor trading across rental and retail sales for the failure of its attempts to turn the business around.
While jobs are already being lost at Blockbuster’s head office in Uxbridge, the firm says its stores will continue trading for the time being, however some may need to close if a buyer cannot be found.
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