Moorfields Corporate Recovery announce closure of remaining Blockbuster Stores
Joint Administrators Simon Thomas and Nick O’Reilly of Moorfields Corporate Recovery LLP have issued the following statement:
Further to our recent statement, we are today announcing the closure of the remaining blockbuster stores across the UK. The remaining 91 stores will now close, with the loss of 808 jobs. All stores will have ceased operating by 16 December 2013.
All remaining stock will be sold by Sunday 15th December with discounts of up to 90% off sale prices.
Joint administrators Simon Thomas and Nick O’Reilly commented,
“It is with regret that we have to make today’s announcement, we appreciate this is a difficult time for all concerned and would like to thank staff for their professionalism and support over the past month. Unfortunately, we were unable to secure a buyer for the group as a going concern and as a result had to take the regrettable action to close the remaining stores.”
Blockbuster was placed into administration In January earlier this year, but rescued by Gordon Brothers who purchased 264 stores in March 2013.
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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