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Blockbuster staff facing an uncertain future
9:00am Friday 18th January 2013 in News
THE future of around 50 staff who work in Blockbuster stores across Oxfordshire is still uncertain.
The movie and video game rental giant was the third victim of the high streets so far this year after going into administration on Wednesday.
Entertainment retailer HMV and camera company Jessops also went into administration this month.
There are 11 Blockbuster stores around Oxfordshire. These are in London Road in Oxford, Peachcroft Road in Abingdon, the Causeway in Bicester, Market Place in Faringdon, The Broadway in Didcot, St Martin’s Street in Wallingford, Market Place in Wantage, Market Place in Faringdon, Langdale Gate in Witney, Upper High Street in Thame, Black Bourton Road in Carterton and High Street in Kidlington.
Blockbuster spokesman Fay Ifrasena said: “What is going to happen is they are looking at the best option to sell the business as a working business. There are a small number of stores already closed.
“At the moment they are not looking at redundancies but the priority will be selling the business in the most profitable way for the creditors and that may involve more store closures at some point.”
Blockbuster employs 4,000 staff around the UK with around 50 in Oxfordshire’s 10 stores.
Administrators Deloitte were appointed because of the company’s debts.
They must now work with Blockbuster’s suppliers and employees to secure as many of its assets as possible for creditors.
This may be by securing a sale for the company as a whole, or parts of the company.
Deloitte spokesman, Lee Manning, said gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.