Thursday, May 30, 2024

Recession bites deeper as Blockbusters as administrators called in.

DVD-rental shop, Blockbusters became the latest high-street retailer to call in the administrators.

Last week, Jessops closed its doors. On Monday, HMV also called them in (although the Lakeside store is still open).

But Blockbuster is the first store this year from Grays high street, an area crying out for renewal and not for stores closing.

And there is also the store in St John’s Way, Corringham, that joins a number of stores that closed their doors in 2012.

Blockbuster UK, which first opened in 1989, has appointed Deloitte to seek a buyer for all or parts of the business.

Deloitte, which took control of HMV on Tuesday, said Blockbuster’s 528 stores would continue to trade as normal in the meantime. The firm employs 4,190 staff.

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