Blockbuster UK up for sale?

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The European arm of rental specialist Blockbuster is up for sale, according to newspaper reports.

The Scotsman claims that 50m is the asking price for the chain's entire European network. That deal would include all 650 UK stores and 5,000 UK staffers. US finance house Winchester Capital has reportedly been assigned by Blockbuster's American HQ to find a buyer.

The news follows the crushing near $0.5bn net loss suffered by Blockbuster in its fourth financial quarter.

Talk of the sale of its UK business has been rife for months, with MCV revealing earlier this month that the firm is facing up to possible UK store closures.