Sky News reports that video and game rental and sales chain Blockbuster is the latest casualty of the UK high street.
4,190 jobs are at risk across the chain's 528 stores. It seems that Blockbuster is still honouring gift vouchers, for now. Sky News quotes a statement from Lee Manning of Deloitte, the firm's appointed joint administrator:
“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."
This news follows HMV's entry into administration just yesterday, and GAME's near-collapse this time last year.The future of both high-street retail chains is uncertain. More news as we get it.
Source : ign[dot]com
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