Administrators aren't robots, you know. Deloitte's Lee Manning, a man who's attempted to drag many a UK high street chain out of the financial quicksand into which poor management has led them, is currently acting as administrator for Blockbuster UK, and likens the process to being caught in trench warfare.
"We try and save as many jobs as we can. But we can't save all of them," he told The Telegraph.
"We have to deal with people that are in distress both emotionally and financially. With people who want their money back. We are basically fighting in the trenches - but we get shot at by all sides."
At the time of writing, around 160 of Blockbuster's 528 UK stores have closed, with a rumoured 60-100 of HMV's stores due to close too. For Manning, the problem extends beyond the decline of the high street itself, and he points to failure to deal with the technological revolution - particularly when it comes to online shopping - that has crippled two of the UK's largest entertainment stalwarts.
“There is a real reason HMV and Blockbuster are distressed and that goes beyond the problems of the high street. That is much more driven by technology and the fact that the delivery method of their product had been fundamentally challenged by technology. Simply put, there is less demand for the physical product when people can buy it easier and cheaper online.
“There is a technological revolution, And Blockbuster’s online business has been underinvested and that has caused their demise. They can’t get footfall in relation to the rent. Also the margins are too slim from the supplier. It is the same problem for HMV.”
