Blockbuster UK to close 164 stores
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Ailing video retail business Blockbuster UK has announced the closure of 164 stores in the coming weeks.
Due to increasing competition from online firms, only 204 stores from a portfolio of 528 at the start of the year will remain.
Administrators confirmed that the remaining stores will continue to trade as usual, while looking for a buyer for the chain.
Lee Manning, Joint Administrator at Deloitte, said: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the company for sale”.
Mr Manning added: “We are in discussion with a number of parties interested in purchasing all or parts of the business and will update on progress in due course.”
Daniel Cotter
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