It first entered administration in January this year with stores falling from 528 to 264. The business has suffered a ”period of poor trading performance” in rental and retail sales.
32 redundancies have taken place at the Blockbuster UK headquarters with around 2,000 left employed since January’s major cut to the work force halving it.
”Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales,” said Gordon Brothers Europe. There was also a failed attempt to develop a new digital platform as they were ”unable to broker a licensing deal with Blockbuster UK’s parent company in the US.”
High profiled UK retailers have been hit with administration in recent years as online competition heats up. Blockbuster is particularly under fire from online movie streaming companies like Netflix and Lovefilm.
