Overcast

Overcast

max temp: 10°C

min temp: 5°C

Search

UK: Jobs fears as Blockbuster collapses

17:57 16 January 2013

A Blockbuster video store in London

A Blockbuster video store in London

DVD and video games rental firm Blockbuster UK has gone into administration, putting more than 4,000 jobs at risk.

shares

Administrators Deloitte said the collapse was driven by competition from internet firms and digital streaming of movies and games.

The Uxbridge-based business trades from 528 outlets employing 4,190 staff.

Blockbuster will continue to accept gift cards and credit bought through its trade-in scheme for second-hand movies and games, as well as operating its loyalty scheme.

The collapse comes a day after music and entertainment retailer HMV, hit the rocks, with more than 4,000 jobs under threat.

Deloitte stressed Blockbuster’s core business was profitable and it would be looking for a rescue deal for all or part of the business as a going concern.

More than 8,000 retail jobs have been put at risk during the last two days alone in a bleak week for Britain’s high street.

Deloitte said around 66 people are employed across Blockbuster stores in the region, and average around five a store.

They include three Ipswich stores in Felixstowe Road, St Matthews Street and Woodbridge Road, and others at Felixstowe, Colchester, Clacton-on-Sea, Lowestoft, Mildenhall, Newmarket, Saffron Walden, Stowmarket and Thetford.

Joint administrator Lee Manning said: “In recent years Blockbuster has faced increased competition from internet-based providers along with the shift to digital streaming of movies and games.

“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.”

shares

1 comment

  • Terrible news for employees and shareholders but an inevitable consequence of changing technology and ways of doing business. The same happened to farriers and smiths when horse drawn canal boats and coaches were replaced by motor cars, steam trains and diesel powered omnibuses but it is the speed of change that is the most difficult to get to grips with.

    Report this comment

    Steve Blake

    Wednesday, January 16, 2013

Ipswich Hospital has bought the old Bridge School site for development.

Ipswich Hospital’s redevelopment plans have received a major boost after it bought the site of the former Bridge School on Heath Road.

Freston Tower

Dendrochronology is the scientific art of dating timber by comparing the patterns in the end grain of a sample from the building in question with the known growth of typical trees at the time, writes John Norman, of the Ipswich Society.

Tracy Root with Ruff and Tumble... or Tumble and Ruff. 'I definitely love cats as much as dogs, but I think dogs give you more back than a cat'

The BBC has set the cat among the pigeons with the launch of a short series with a provocative title – Cats v Dogs: Which is Best?

Sleeping Giants episode four

The Sleeping Giants are back with a packed episode four, discussing the best goal ever scored, comebacks which should never have happened and the FA Vase.

Visitors got to take part in the Big Garden Bird Watch at the Flatford RSPB over the weekend.
Amy and Julia Hill.

Our photographers travel across Suffolk and north Essex, recording the events of the week.

Mouth cancer survivor Sam Fordham with husband Neil and five-year-old daughter Molly

A woman who beat mouth cancer has said it is vital people who think they have symptoms of any form of the disease gets them checked out early.

QD Stores logo

A man has been arrested on suspicion of causing a disturbance at an Ipswich branch of QD.

Pupils at Farlingaye High, Woodbridge, prepare their presentations as part of the Most Able Student Day at the school.

Gifted pupils gathered for the latest in a series of events aimed at helping them realise their early academic promise.

Charity evening on the ice at Winter Wondeland in Colchester

Suppliers, small businesses and individuals have “little chance” of getting any of the quarter of a million pounds they are owed from the collapse of Colchester’s outdoor ice rink.

Police close road (file picture)

Saddlemakers Lane in Melton has reopened in both directions.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Great British Life

Great British Life
MyDate24 MyPhotos24