Blockbuster closes more stores

By Ross Findon

Published on Wednesday, February 13, 2013 - 16:30


UPDATED 16:32*

ADMINISTRATORS for Blockbuster have announced all the Isle of Wight stores are to close.

Deloitte said today (Wednesday) that Newport, Ryde and Shanklin stores would be closed, along with more than 160 others nationwide.

The remaining stores will continue to trade as usual while administrators negotiate with bidders.

Blockbuster Cowes was already set to close, however staff were originally told they would be moved to other stores.

A statement issued on behalf of Deloitte said: "Staff in the stores affected by the closures will be facing redundancy.

"A dedicated employee helpline is in place and the company is running an employee assistance programme to help those staff facing redundancy find other jobs.

"Closing stores will remain open for business as usual and customers will be notified in advance of closure so that they can return their outstanding rental items beforehand.

"The standard rental terms and conditions remain in place during this time."

Lee Manning, joint administrator, 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.

"We would like to thank the company’s employees for their support and professionalism during this difficult time and we are also grateful for the continued support of customers.

"We are in discussions with a number of parties interested in purchasing all or parts of the business and will update on progress in due course."

Each Blockbuster employs on average five staff, however exact figures were not available, according to a spokeswoman.



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