Blockbuster becomes third retailer to hit financial trouble

Published on 17/01/2013 10:51

In one of the worst ever weeks for Britain’s high street, rentals firm Blockbuster became the third big name to call in administrators.

The firm employs seven people at its Lynn store, in Railway Road, and has 4,190 staff across the country.

Lee Manning, joint administrator at Deloitte, said: “In recent years Blockbuster has faced increased competition from internet based providers along with the shift to digital streaming of movies and games.

“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.”

Unlike HMV, the firm is continuing to accept gift vouchers. On Friday, photographic specialist Jessops closed all of its 192 stores, including Lynn’s where six people were employed.

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Blockbuster becomes third retailer to hit financial trouble

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