Blockbusters goes into administration

[RyRy]

Hahaha who called it? I know somebody said Blockbusters should've gone into administration sooner or later!

http://www.bbc.co.uk/news/business-21047652

DVD rental firm Blockbuster has become the latest UK High Street firm to go into administration after struggling against internet competitors.The chain has 528 stores and employs 4,190 staff.
Deloitte, the accountancy firm which will now take over running the firm, said Blockbuster would keep trading while it tries to find a buyer.
Music chain HMV and camera-seller Jessops both went into administration earlier this month.
It is not yet known what will happen to HMV's branches and 4,500 staff. Unusually, all of Jessops' 187 branches closed within days of administrators being appointed.
Electricals chain Comet collapsed before Christmas.
"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," said Lee Manning, from Deloitte's Restructuring Services practice.
"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."
The first Blockbuster store in the UK opened in 1989. In the past few years it has faced increasing competition from online-only rental firms which post DVDs to subscribers and, more recently, from streaming services which allow users to download films and TV series.
It has closed more than 100 outlets in the past few years.

[Samantha]

Again doesn't look good, my mum told be a little earlier about. Hopefully it gets sorted though .

[RyRy]

I won't be surprised if Netflix or Tesco purchase it, Tesco's rental service is amazing and Netflix in the UK using Blockbusters physical DVDs is just another market they can pursue.

[GommeInc]

Wait, Blockbusters hadn't already disappeared? I haven't seen one in years! All the ones I know of seem to of closed up a few years ago :/

[Kardan]

Everytime I've ever stepped into one, I've felt like I've been transported back to the 90's... It's so outdated... This doesn't surprise me much. Strange to see three big companies go bust so near to each other...

[Cerys]

There's a blockbusters in wakefield *I think. maybe its leeds idek* which nobody ever goes into and pretty much looks empty. Surprised they didnt die agess ago tbh.

[dbgtz]

Blockbusters near me, always dead which is no surprise as there's literally no appeal to go there. Compared to HMV, it's more expensive in what it sells, is in a worse area and is usually dead silent where at least with HMV it feels active whenever I go in there. Then obviously it's inconvenient to most as digitial streaming services are taking over. Inevitable really.

[-:Undertaker:-]

I've been reading about the imminent demise of Blockbusters for years, maybe it's become a self-fulfilling prophecy.

Another store to go empty on the shopping street near mine, all part of the market but sad that we're not seeing any new independent shops opening in this country anymore thanks to extortionate rents that the council charges in land charges, licenses and business rates.