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Blockbuster appoints administrator, parties interested in 'parts' of the business

Ben Parfitt
Blockbuster appoints administrator, parties interested in 'parts' of the business

Moorfields Corporate Recovery has been officially appointed as the administrator of Blockbuster.

The retailer confirmed at the end of last month that it planned to re-enter administration, with owner Gordon Brothers Europe admitting that it could see no recovery from “a period of poor trading performance”.

Retail Week reports that there is reportedly already some interest in the chain, which has 264 stores and employs 2,000 workers.

“This is obviously a difficult and upsetting time for everyone involved at Blockbuster, in particular employees who have endured a stressful period since January this year,” Moorfields’ Simon Thomas and Nick O’Reilly stated.

“We appreciate that staff and customers will want a speedy resolution, however, we must ask people to be patient over the coming weeks.

“We are pleased to say that there are parties who are interested in parts of the business. Our focus will be to secure a future for as much of the business as possible as well as trying to save jobs before Christmas.

“We remain committed to being open and transparent during the intervening weeks, and will ensure that all stakeholders, in particular employees, are kept regularly updated about developments.”

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Tags: Retail , Blockbuster , administration , administrator

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