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.

For  media  enquiries,  please  contact  Oliver  Parry  at  Redleaf  Polhill  on  020  7382 4762/07707 929 337 or via email: moorfields@redleafpr.com.

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