Blockbuster is already facing some tough decisions as it enters administration for the second time this year. According to the BBC, a buyer for the troubled retail chain still hasn't been found, and administrators Moorfields Corporate Recovery have taken the decision to close 72 stores this week. 452 jobs will be lost in what was deemed a "necessary" move.
Moorfields stated that this wasn't an "easy decision to make," and it will be "extremely upsetting" to the affected staff, especially so close to the Christmas period. "We must reiterate that, as part of our attempts to turn around the business, today's decision is necessary if parts of Blockbuster are to be saved and a buyer found," they said in a brusque statement. Small comfort, perhaps, to those 452 staffers.
On the other side of the pond, Blockbuster US is closing 300 stores.
We wish the very best to all those affected by the decision and a speedy return to the workplace.
If a buyer isn't found, the British high street may be set to lose another of its specialist retailers, even as other chains struggle to stay afloat. We wonder what "parts" of Blockbuster might end up being sold on.