St Albans staff await news of Blockbuster administration
Blockbuster Video - Credit: Archant
ST ALBANS’ retail sector has been dealt another blow with a third chain store now in administration in less than a week.
Deloitte has been appointed administrator of Blockbuster, the DVD and video games rental company, which has outlets in London Road, St Albans, and the High Street in Harpenden.
Jessops closed on Friday after going into administration last Wednesday, and HMV was also yesterday placed into administration.
In an announcement today (Thursday) partners at Deloitte, Lee Manning, Matthew David Smith and Neville Kahn, said they have been appointed joint administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited.
Blockbuster has 528 stores across the UK, employing 4,190 staff.
Lee 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.
Most Read
- 1 Recap: Rail delays through St Albans and Harpenden after train hits branch
- 2 Council confirms first monkeypox case in Hertfordshire
- 3 Jubilee garden opened at Harpenden primary school
- 4 The Crossrail connections to Hertfordshire which were never built
- 5 Fire crews receive 'multiple' 999 calls amid large blaze at Welham Green
- 6 School's generous donation to foodbank
- 7 St Albans garden centre dedicates fundraising year to Brain Tumour Research
- 8 Goods worth more than £260 in total stolen from St Albans Co-op store
- 9 Breakaway Theatre Company returns with an enjoyable day at the races in Ladies' Day
- 10 Teenager ‘robbed at knife-point' by two males in Hemel Hempstead
“The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.
“During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.