Blockbuster goes into administration (From The Oxford Times)
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Blockbuster goes into administration
3:40pm Wednesday 16th January 2013 in News
By Mark Taylor, Reporter. Please call me on (01865) 425411
FILM rental company Blockbuster has become the latest high street chain to go into administration.
Adminstrators Deloitte were appointed today, leaving uncertainty for employees across the county.
Blockbuster has a number of stores across Oxfordshire including; London Road in Oxford; Peachcroft Road in Abingdon; the Causeway in Bicester; Market Place, Faringdon; Upper High Street in Thame; Market Place in Wantage; High Street in Kidlington, and Langdale Gate in Witney.
The chain's demise has come hot on the heels of entertainment retailer HMV, which plunged into trouble on Monday.
Photography chain Jessops and Comet have both gone under already in 2013.
Lee Manning, spokesman for Deloitte said: “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.”
Comments(8)
Andrew:Oxford
says...
4:13pm Wed 16 Jan 13
mandate wrote:Aren't the DVDs owned by the studios with Blockbuster acting as the intermediary?
If HMV won't honour gift vouchers after going into administration. Then why should anybody leave back rented DVD's to Blockbuster?
Grunden Skip
says...
4:21pm Wed 16 Jan 13
Andrew:Oxford wrote:Maybe some, but they also sell a lot of ex-rental, I wonder if there will be a 50p a pop fire sale.
mandate wrote:Aren't the DVDs owned by the studios with Blockbuster acting as the intermediary?
If HMV won't honour gift vouchers after going into administration. Then why should anybody leave back rented DVD's to Blockbuster?
pcollins
says...
4:32pm Wed 16 Jan 13
xjohnx
says...
5:36pm Wed 16 Jan 13
The administrators are trading with the companies assets as the law requires. They are not liable for Blockbusters debts and are not required to pay debts while trying to sell the company so as to pay the creditors there due.
Feelingsmatter
says...
9:07pm Wed 16 Jan 13
dant40
says...
9:39pm Wed 16 Jan 13
I love taking my 4 year old so we can pick a film for when his friends come over for a DVD afternoon. It's only once a month but it makes it so exciting for the little lad to know he went to the shop.
colbart
says...
3:51pm Thu 17 Jan 13
mandate says...
3:59pm Wed 16 Jan 13