Blockbuster Become this Month's Third High Street Casualty

Yet more local jobs at risk as chain goes into administration

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HMV Follows Jessops into Administration

HMV Group

Camera chain Jessops closes its doors in Hammersmith and Westfield

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Yet more jobs in Fulham are at risk with entertainment chain Blockbuster becoming the third high street chain to go into adminstration this month.

Accountancy firm Deloitte has been appointed as administrator to the chain of 528 stores, which employs 4,190 staff.

However it says the chain, which includes a long-standing branch at the foot of North End Road in Fulham, will continue trading while its tries to find a buyer for the business. 

"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," says Lee Manning, from Deloitte's Restructuring Services practice.

"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 is a different approach from the two previous casualties - camera chain Jessops, which has closed all its doors and HMV which is still trading but is not accepting gift vouchers or issuing any more.

Like HMV, Blockbuster has struggled against online competitors and the shift to digital streaming of movies and games.

January 17, 2013