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Basingstoke jobs at risk as Blockbuster goes into administration
MORE Basingstoke jobs are at risk after Blockbuster became the latest high street chain to go into administration.
The DVD and games rental company, which has two stores in Basingstoke at the retail park in Hatch Warren and at Chineham Shopping Centre, has appointed Deloitte as administrators today following a period of poor trading.
The news follows the announcement on Tuesday that HMV has gone into administration, putting the jobs of those at the store in Festival Place at risk, and comes after camera chain Jessops closed all of its stores last Friday, including one in The Malls, Basingstoke.
Blockbuster employs around 4,200 staff in the UK, in 528 stores. Lee Manning, from 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.
“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.
“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.”
Gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods during this time.