Search

Blockbuster goes into administration threatening Woodford Green jobs

15:45 16 January 2013

DVD rental firm Blockbuster which has a branch in Woodford Green has gone into administration, it was announced today.

The company has struggled against internet rentals and sales in recent years.

It has 528 stores across the UK, including one in The Broadway, and employs 4,190 staff.

Business advisory firm Deloitte have been appointed adminstrators.

Lee Manning, of 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 as a going concern.

“During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.”

Staff at the Woodford Green store were unable to comment on the news this afternoon.

0 comments

Latest News Stories

Yesterday, 18:31

As fireworks and sparklers light up the skies above Redbridge, residents are being urged to be extra careful during another Fire Brigade Union strike.

Yesterday, 13:51
Pupils sitting an exam. Picture: PA/David Jones

Redbridge is home to some of the country’s brightest pupils with more than three quarters achieving five or more A* to C GCSE grades according to new figures.

Yesterday, 11:30
Planned engineering work could affect your journey this weekend.

There is a relatively minor programme of planned closures on the Tube and Overground network this weekend - but they could still affect your journey. Read on for the lowdown.

Yesterday, 09:37
Survivor of the Trilokpuri killings in East Delhi - a photo from the 1984 Anti-Sikh Pogroms Remembered exhibition at the Wiener Library in Russell Square. Photo: Ram Rahman

WARNING: The image on this page contains graphic content.

Most read news

“Space is hard and today was a tough day.”

One pilot is dead and another seriously injured after the craft exploded over the Mojave desert.

One pilot has died and another is seriously injured after a rocket belonging to billionaire Sir Richard Branson’s space tourism venture crashed during a test flight. Virgin Galactic’s SpaceShipTwo rocket came down in the Mojave Desert in California. An eyewitness reported that the craft exploded in flight after ignition. A Virgin Galactic spokesman said the […]

Digital Edition

Image
Read the Ilford Recorder e-edition today E-edition