Dozens of Kent jobs at risk as Blockbuster goes into administration
Blockbuster's Gravesend
store is among a dozen in Kent
by business editor Trevor Sturgess
Blockbuster, the DVD and video games rental business, is
the latest victim of the high street crisis after collapsing into
administration today and putting more than 4,000 jobs at risk
nationwide.
The chain operates a dozen branches across the county - in
Maidstone, Rainham, Chatham, Sittingbourne, Tonbridge, Tunbridge
Wells, Sevenoaks, Gravesend, Ashford, Dover, Folkestone and
Ramsgate.
Nationally, the company has 528 stores and employs 4,190 staff.
It has faced fierce online competition and the switch to digital
streaming.
Deloitte, the firm handling the administration of CD retailer
HMV, is also administering Blockbuster Entertainment and
Blockbuster GB.
Lee Manning, joint administrator and partner 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."
Blockbuster joins a sorry roll call of high street retailers who
have suffered from online competition in recent years.
Some like Woolworth, Zavvi, Comet and
Jessops have disappeared altogether.
HMV is hanging on for a possible buyer, but faces the closure
of many stores.
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below.
16/01/13
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