Blockbuster has gone into administration (From Bucks Free Press)

Blockbuster has gone into administration

2:51pm Wednesday 16th January 2013 in News By Rebecca Cain

BLOCKBUSTER has gone into administration it was announced today.

The game and rental company, whose HQ is in Uxbridge, has 528 stores across the UK employing 4,190 staff.

There are stores in Park Parade in Hazlemere, West Street in Marlow, High Street in Chesham and Station Road in Beaconsfield.

Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, the business advisory firm, have been appointed joint administrators.

Mr Manning said: "In recent years Blockbuster has faced increased competition from, internet based providers along with the shift to digital streaming of movies and games.

"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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