Exmouth Blockbuster store to close
PUBLISHED: 09:43 29 November 2013 | UPDATED: 11:11 29 November 2013
Exmouth’s Blockbuster store is to close down on Sunday, with the loss of 11 jobs.
The branch in the Magnolia Centre is one of 30 Blockbuster stores across the country which are being closed this weekend by the video rental chain’s administrators, Moorfields Corporate Recovery LLP.
The Exmouth branch had previously survived when Blockbuster first entered administration earlier this year, and also survived the first round of store closures earlier this month, after new owners Gordon Brothers Europe conceded they had failed to turn the business around.
However, with the administrators still unable to find a buyer for the chain, time for the Exmouth branch has run out.
In a statement, Simon Thomas and Nick O’Reilly of Moorfields said: “Following the marketing process to find a buyer for Blockbuster, no acceptable offers have been received for the business.
“As a result, Moorfields will now seek to oversee an effective phased closure, whilst still exploring any offers for the business as a whole or in part.
“As part of this process, we are today regretfully announcing the closure of a further 30 stores across the United Kingdom and the loss of 182 jobs.
“It is unfortunate that we have been unable to secure a buyer to date, and therefore we have had to take the decision to make further store closures. We are continuing to review the profitability of the portfolio and may have to make further closures over the next couple of weeks. “We appreciate this is a difficult time for all concerned and would like to thank staff for their ongoing cooperation.
“In addition, we are making every effort to support customers and to date issued over 30,000 refunds for goods and services not received. We are enormously grateful for their continued loyalty.”
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