Uncertainty over Bucks jobs at Blockbuster and HMV (From Bucks Free Press)

Uncertainty over Bucks jobs at Blockbuster and HMV

1:00pm Sunday 20th January 2013 in News By James Nadal

Uncertainty over Bucks jobs at Blockbuster and HMV

STAFF at HMV and Blockbuster stores in south Bucks were facing an uncertain future this week after both retail giants when into administration.

About 15 workers at HMV's registered group head offices at Windsor House in Spittal Street, Marlow, were among those left with doubts about their jobs.

HMV, which has a store in High Wycombe's Eden shopping centre, among 223 nationwide, will remain open while administrators Deloitte seeks a buyer.

A buyer is also being sought for Blockbuster, which has 528 stores nationwide.

Employees at Blockbuster's stores in West Street in Marlow, Station Road in Beaconsfield, Park Parade in Hazlemere and Chesham High Street could be affected by the rental giant's demise.

The administrator Deloitte said each store has an average of five staff.

The two retailers combined have over 8,200 staff in the UK.

There was anger when it was announced that HMV gift cards and vouchers would not be honoured but Blockbuster said it would still honour its own.

Nick Edwards, Joint Administrator and restructuring services partner at Deloitte, said: "HMV is an iconic retailer and continues to be a very popular brand, but as we have seen with many high street retailers, the market is changing rapidly and conditions are currently very tough.

"Following our appointment, we are working closely with management and staff to stabilise the business in order to continue trading whilst actively seeking a purchaser for the business and assets."

Lee Manning, Joint Administrator and Partner in Deloitte’s Restructuring Services practice, 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."