Blockbuster administrators announce further details on store closures
Joint Administrators Simon Thomas and Nick O’Reilly of Moorfields Corporate Recovery LLP have issued the following statement:
Following the marketing process to find a buyer for Blockbuster, no acceptable offers have been received for the business. As a result, Moorfields will now seek to oversee an effective phased closure, whilst still exploring any offers for the business as a whole or in part.
As part of this process, we are today regretfully announcing the closure of a further 30 stores across the United Kingdom and the loss of 182 jobs. For full details of the stores, please click here.
To support employees affected by the store closures, Moorfields are listing job vacancies for a number of leading retailers, please click here for further information.
It is unfortunate that we have been unable to secure a buyer to date, and therefore we have had to take the decision to make further store closures. We are continuing to review the profitability of the portfolio and may have to make further closures over the next couple of weeks. We appreciate this is a difficult time for all concerned and would like to thank staff for their ongoing cooperation.
In addition, we are making every effort to support customers and to date issued over 30,000 refunds for goods and services not received. We are enormously grateful for their continued loyalty.
Notes to editors
Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of Corporate Advisory, Restructuring and Insolvency Services. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations. Moorfields Corporate Recovery is proud to have been awarded Corporate Recovery Firm of the year at the Insolvency and Rescue Awards 2012.
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