62 Blockbuster stores across the country will shut their doors for the last time this weekend, as announced by administrators Moorfields Corporate Recovery. 427 employees across the affected locations will also lose their jobs, just weeks before Christmas.
The closures come as the search for an “acceptable offer” for the entertainment retailer drags on. If an agreement can not be made with a potential buyer, Moorfields may be forced to close the remaining 91 stores which will see a further 808 employees without work.
Blockbuster has entered administration twice this year, and has already seen 400 stores close.
Blockbuster is to close 72 of their 264 UK stores it was announced Monday, resulting in over 450 job losses.
The DVD and Videogame rental retailer re-entered administration last month, linked in part to increased competition from online streaming, direct-mail services and on-demand TV platforms.
The move, which comes just six-weeks before Christmas, will see the majority of the earmarked stores close over the course of the next week.
DVD and videogame rental retailer Blockbuster will now honour PlayStation 4 and Xbox One preorders, despite previously announcing that all orders placed would be cancelled due to the firm having re-entered administration, however customers will have to act fast.
Placing over 2,000 jobs at risk, the company announced they would be re-entering administration on October 29th. Following the announcement, the firm revealed on their Facebook page that all pre-orders placed for both the PlayStation 4 and Xbox One would no longer be honoured, just three weeks ahead of the console’s launches.
At the time Blockbuster said in order to receive a refund for any pre-orders customers would have to write to the company via postal mail. This did not prove popular with customers, who took to the company Facebook page to complain.
In a series of Tweets published Tuesday, November 5th, Blockbuster said that they would now be fulfilling customer orders, working directly with Microsoft and Sony to ensure demand is met.
DVD and Videogame rental chain Blockbuster is set to go into administration for the second time this year, according to its current owner, placing some 2,000 jobs at risk.
The rental retailer first entered administration in January but were saved by Gordon Brothers Europe, a private equity firm, in March. Now, the nationwide firm finds itself in administration again.
After initial rumours, followed by a few days of speculation, LoveFilm officially announced that its game rental service will no longer be available to both new and existing customers.
With the impending loss of LoveFilm as a gaming rental option, the already small UK videogame rental market is set to get even smaller.
As a result Gamebrit decided to take a look at the options left for gamers, both online and on the high-street.
Spoiler: Your choices are severely limited…
Blockbuster, recently bought out by Gordon Brothers Europe, which saved the company, its stores and staff from administration, is seeking further growth in the retail space.
Going against the rental model which gave it past success, Managing Director Gary Warren has pledged a retail push for games as part of its core business citing geographic advantage over the likes of GAME and HMV. Blockbuster stores can certainly be found in rather obscure places, with 264 outlets across the country.
Blockbuster hope to target the life-cycle of the new Xbox and PlayStation 4 specifically in order to gain a foothold, and Warren has already arranged meetings with suppliers to that end.
“We have an ambition to be much more of a partner to the games industry in the UK and less passive. We want more voice. We want the games industry to know us and to be key to plans. We want our suppliers to feel we have channels that are available to them which they can’t get from our rivals. We are serious about games at Blockbuster.”
You can stop worrying about that VHS copy of the Mortal Kombat film you forgot to return to Blockbuster in the late 90’s — the DVD rental firm has joined the likes of HMV and Jessops, announcing that it too is set to enter administration.
The chain, which has over 500 UK stores employing some 4,000 staff, has appointed Deloitte to handle the business whilst a new buyer is sought.
Pictures from what’s allegedly a store database at rental retailer Blockbuster appear to show a selection of possible Wii U launch titles.
The snaps, which show a list of some 25 games, are said to originate from a UK-based branch of the rental store. Originally posted over at GoNintendo, the list includes the likes of Just Dance 4, Metro: Last Light, Rabbids Party Land and New Super Mario Bros. Mii.