Branches of collapsed DVD rental chain Blockbuster are set to disappear from UK high streets after administrators failed to find a buyer and announced more job losses and store closures.
Another 30 shops, including outlets in Chester-le-Street, Morpeth and Newcastle will be shut over the next few days with the loss of 182 jobs as administrators from Moorfields Corporate Recovery start a phased closure of the entire estate. It is still hoping for last minute offers for all or parts of the business, but admitted it had not received any “acceptable” bids so far.
The closures bring the total so far to just over 100 out of its 264 outlets, with more than 630 retail jobs cut from its 2,000-strong workforce.
Joint administrators Simon Thomas and Nick O’Reilly of Moorfields said: “It is unfortunate that we have been unable to secure a buyer to date, and therefore we have had to take the decision to make further store closures. We are continuing to review the profitability of the portfolio.’’