Two bidders offer fresh hope for Blockbuster

UK retailer Blockbuster could yet be saved.

The Independent reports that two restructuring firms – Gordon Brothers and GA Europe – have lodged official bids for the company with the aim of keeping it running as a going concern.

However, both would look to a significantly slimmed-down operation, with further store closures still highly likely. Gordon Brothers is apparently targeting a 200-store chain while GA Europe would look to operate just 150 outlets.

1,000 retail jobs could be saved in the process.

The negotiations have apparently been complicated by the fact that US operator Dish Network still owns the Blockbuster brand rights.

"We are hopeful of concluding a sale of the business,” Deloitte’s joint administrator Lee Manning stated. We are in discussions but it is more complex than a more straightforward process because we don’t control the brand."

MCV revealed last week that further store closures are incoming.