Blockbuster store to close as company goes into administration

Blockbuster

The Rochdale branch of Blockbuster on Spotland Raod is one of 72 Blockbuster stores in the UK to close with the loss of 452 jobs after the company went into administration for the second time this year earlier this week.

It was understood that employees have been informed of the job losses.

Administrators at Moorfields Corporate Recovery today said talks with potential buyers of parts of the business continued and a further update would be issued within the next seven days.

In a statement, the administrators said: "Over the past few days our focus has been to assess the financial situation of Blockbuster in order to try and find a buyer for the business.

"As part of this process, we are today regretfully announcing the closure of 72 stores across the United Kingdom and the loss of 452 jobs.

"This has not been an easy decision to make and we acknowledge that, with Christmas on the horizon, this will be extremely upsetting news to a large number of people, most of all those affected by the store closures.

"We must reiterate that, as part of our attempts to turn around the business, today's decision is necessary if parts of Blockbuster are to be saved and a buyer found.

"Discussions with potential buyers for parts of the business continue and we hope to be in a position to update staff, creditors and customers shortly with a further statement within the next seven days."