Blockbuster on the brink

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THE future of another High Street firm - DVD and video games rental firm Blockbuster UK - hangs in the balance after it entered into administration, putting 4,000 jobs at risk.

The chain has become the latest name to go into administration after been affected by competition from internet-based film services.

The chain has 528 stores across the country, employing 4,190 staff.

There are 79 branches in the North West, including one in Wigan Lane, Wigan, and another in Holden Road, Leigh.

A spokesman for Blockbuster could not confirm how many jobs were affected, but did state that an average of five people worked in each store.

The branches will keep trading while the administrators try to find a buyer.

A spokesman for Deloitte, the accountancy firm will now take over the day-to-day running of the firm, 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,” said Lee Manning from Deloitte’s Restructuring Services practice.

“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.”

The news comes just days after HMV entered administration, affecting up to 15 employeers at the outlet in Wigan’s Grand Arcade.

Camera-seller Jessops went into administration earlier in the month, and electricals chain Comet collapsed before Christmas.