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Blockbuster calls in administrators

Threat: The Preston branch

Threat: The Preston branch

 

DVD and video games rental firm Blockbuster UK has gone into administration, putting more than 4,000 jobs at risk.

Deloitte, which is handling the administration, said the collapse was driven by competition from internet firms and digital streaming of movies and games.

The business opened its first store in London in 1989 and now trades from 528 outlets employing 4,190 staff.

It has a store on Corporation Street, Preston, Churchill Way, Leyland and George Street, Chorley.

Joint administrator Lee Manning said the chain had faced “increased competition” from internet providers specialising in digital streaming of movies and games.

He said: “We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

“The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.

“During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.”

 

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