Blockbuster U.K. to Close Down Completely on Dec. 16
The British video rental business couldn't source a buyer for their 91 outlets and 808 store employees before Christmas.
LONDON – Blockbuster U.K. is to go the same way as its North American counterpart, shuttering the video rental chain's 91 remaining outlets here, leaving a generation mourning the loss of yet another iconic presence on the high street.
The chain's U.K. administrators, Moorfields Corporate Recovery -- despite trying to secure a future for as much of the business as possible to save jobs before the holiday season -- said on Thursday that efforts have failed.
The remainder of the shops will cease operations by Dec. 16 and leave 808 store employers out of work.
The closure of the 91 outlets comes a week after the announcement that 62 stores were closing with a loss of 427 jobs.
The full shutdown of Blockbuster U.K. outlets comes exactly one month and a day after Blockbuster rented Seth Rogen's post-Apocalyptic comedy This Is The End before shutting down the remaining Dish Network-owned 300-strong U.S. retail stores and distribution centers.
Blockbuster U.K. sought bankruptcy protection in January of this year with Deloitte acting as administrator, and in March it seemed it had been given a reprieve after private equity firm Gordon Brothers Europe bought the company’s business and assets.
But Gordon Brothers was unable to oversee a turnaround and last month Moorfields was appointed administrator.
Moorefields’ Simon Thomas and Nick O’Reilly said it was with regret that the announcement to close was made.
"We appreciate this is a difficult time for all concerned and would like to thank staff for their professionalism and support over the past month. Unfortunately, we were unable to secure a buyer for the group as a going concern and as a result had to take the regrettable action to close the remaining stores," Moorfields said.