All 264 Blockbuster stores to continue trading as buyer is sought

Blockbuster has said that all of its 264 UK stores will continue trading for the time being while a buyer for the chain is sought.

However, 32 redundancies have already been made from its UK head office.

It was announced just moments ago that Blockbuster UK is to enter administration for a second time.

It’s not yet known whether the retailer will continue to honour store credit while a buyer is sought, although historical president would suggest this is highly unlikely.

We had striven to turn around the historically loss-making company by restructuring the business, investing significantly in strategic marketing activities and negotiating with the landlords of its retail outlets,” owners Gordon Brothers Europe said in a statement.

"The company also tried to develop a new digital platform but was unable to broker a licensing deal with Blockbuster UK’s parent company in the US.

"Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales."