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Hazlemere store under threat as Blockbuster falls back in to administration
FILM and game rental chain Blockbuster has been plunged back into administration – casting doubts over the future of its Hazlemere store.
The firm was sold to Gordon Brothers Europe in March after Blockbuster first collapsed in January.
The private equity firm said there would be 32 redundancies at Blockbuster's UK headquarters, but its remaining 264 stores would continue to trade while a buyer was sought.
Frank Morton, chief executive of Gordon Brothers Europe, said: "We have worked extremely hard to reignite the Blockbuster brand, make our investment work and put the business on a viable footing.
“Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales.
"Despite our best efforts, we regret that we are now forced to make some redundancies and would like to thank any affected employees for their support during the last six months."
Gordon Brothers slashed about half of Blockbuster’s stores – including the outlet in Marlow – to prioritise prime locations and new releases.
It has also been negotiating with landlords to bring down rent costs and investing in marketing activities.
Blockbuster has faced fierce competition from online streaming services as well as supermarkets and internet-based stores selling and renting cheaper DVDs and video games in recent years.
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