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Blockbuster Axes 72 Stores And 400+ Jobs In "Extremely Upsetting" Move

Author:
Jonathan Lester
Category:
News
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Blockbuster

Blockbuster Axes 72 Stores And 400+ Jobs In "Extremely Upsetting" Move

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.

Add a comment9 comments
Late  Nov. 18, 2013 at 14:46

Popped into a Blockbuster earlier today, but felt like a vulture and left empty-handed after a few minutes.
Stupid, really. They want me to buy their stuff so that they won't have to reduce it further still later in the week/month - and yet I felt guilty for looking...

Anyway, bargain hunters - I'm not sure if it's the same in all branches but the Hartlepool branch had most of their newest games (ps3 and xbox360) priced at around £30-£35 with a "40% off" sign - so presumably £18-£21; and most ex-rental games priced at £10 - again with a "40% off" sign so that should be £6 each.

Shelves were less than half-full.

Most dvd and bluray films had "20% off" signs - though I did see a few display racks of "40% off".
I note the store was also still renting films out.
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Best of luck to all Blockbuster staff. There's no good time to lose your job, and Xmas is especially hard of course :(

Quietus  Nov. 18, 2013 at 15:07

Best of luck to all Blockbuster staff. There's no good time to lose your job, and Xmas is especially hard of course :(
Agreed. Good luck, people.

Crazy Jamie  Nov. 18, 2013 at 15:45

Whilst I always viewed this as somewhat inevitable in recent years, the one thing we can all agree on is that the front line staff are certainly not to blame for the failure of the company, and yet they are the ones who will be losing their jobs at a time and in an environment when finding work is particularly difficult. The irony being that those who are responsible for the company's downfall will likely be absolutely fine. Best of luck to those affected, both in the short term and in finding new jobs further down the line.

Billyballs  Nov. 18, 2013 at 15:46

Workshy minimum wages fools, the lot of them.

Late  Nov. 18, 2013 at 16:28

http://tochki.su/tibiame/img/hires/troll.png

Breadster  Nov. 18, 2013 at 19:28

My Uncle had a PS4 pre-ordered there and he had paid for it up-front and now they've cancelled it and are saying they can't give him the money back. It's a joke, obviously he's not letting it go seeing as that is essentially theft.

I've never shopped in Blockbuster so it doesn't really bother me to see them go under, but people losing their jobs is obviously never a good thing.

Casinodancer  Nov. 19, 2013 at 09:32

My Uncle had a PS4 pre-ordered there and he had paid for it up-front and now they've cancelled it and are saying they can't give him the money back. It's a joke, obviously he's not letting it go seeing as that is essentially theft.

I've never shopped in Blockbuster so it doesn't really bother me to see them go under, but people losing their jobs is obviously never a good thing.
Had the same thing done to me by Jessops and got sent a SD card for my £400 spend. It's a joke what they can get away with.

Crazy Jamie  Nov. 19, 2013 at 18:56

My Uncle had a PS4 pre-ordered there and he had paid for it up-front and now they've cancelled it and are saying they can't give him the money back. It's a joke, obviously he's not letting it go seeing as that is essentially theft.
It's not at all theft. Your uncle is simply one in a long line of unsecured creditors that Blockbusters cannot pay, hence the reason why they are in administration. To be perfectly honest I question your uncle's judgment in paying such a large amount of money in advance to a company that has clearly been in difficulty for some time, especially when PS4s can be pre ordered with more stable companies without paying the full price up front. No doubt he has been unfortunate, but I'm sure I'm not alone in thinking he has also been somewhat naive.

Last edited by Crazy Jamie, Nov. 19, 2013 at 18:56
Breadster  Nov. 20, 2013 at 17:08

Maybe he was, I wouldn't have done it either, but it doesn't make it any less of a p***take, and it doesn't excuse it in any way.

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