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Tag Archives: administration

Welsh casual games firm OysterWorld falls into administration

Welsh games outfit OysterWorld has fallen into administration. As reported by the BBC, 50 people have lost their jobs. The firm has received 1.4m in Welsh Government grants over the last two years. The developer owes 2m, say administrators Kreston Reeves. The firm decided to enter administration after major creditors …

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Mastertronic enters administration

UK games publisher Mastertronic has entered administration. The firm says a deal is in place to buy the assets of the business and retain the existing team. However, MD Andy Payne will no-longer be involved. Mastertronic applied for a CVA in July 2014 to avoid a winding-up order. At that …

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Phones4u staff warned that they may not get full wages

Staff at UK retailer Phones 4u have been told that their wages are likely to be curtailed as hope for the troubled company begins to fade. The Independent reports that an internal document sent to the chain’s 5,596 staff says that while they will still be paid as administrators PwC …

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Phones 4u enters administration, closes all 550 stores

High street mobile phone retailer Phones 4u has entered administration and made the surprise decision to immediately close all of its stores. The chain employs 5,596 people and operates 500 stores in the UK, all of which have ceased trading this morning while administrators PwC assess the business’s ongoing viability. …

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REVIEW OF THE YEAR: The fall of Blockbuster

Last week, the High Street told MCV it feels 2014 will be a good year for video games retailing. But 2013, at least the first half of it, remains one to forget. Blockbuster is no more. The entertainment brand had been a staple of the UK High Street since 1989 …

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All Blockbuster UK stores to shut down

Managers at UK Blockbusters stores have this morning been told that every outlet is to close, MCV has learned. The bad news was apparently delivered over the phone by Blockbuster UK operations manager Dave Potter. MCV has received confirmation from three seperate stores not included on yesterday’s list of 72 …

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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 …

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