Promotions as film stores set to shut

Blockbuster on Whitegate Drive, Blackpool.
Blockbuster on Whitegate Drive, Blackpool.
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BLOCKBUSTER stores on the Fylde Coast are to close “within the next couple of weeks” after the film rental firm went into administration.

Joint administrators say that 160 store nationally will close in the coming weeks including the stores in Cornelian Way, off Cherry Tree Road in Marton and in Poulton.

Others will remain open for the near future and a series of closing down promotions will be held to attempt to realise as much of the company’s assets as possible for the creditors.

A spokesman said they were hoping to sell the business as a going concern or at least sell parts of the business and were looking for buyers.

A statement said: “The Joint Administrators continue to review the profitability of the store portfolio and announcements of further closures may be made in coming weeks. While staff in those stores affected by the closures will be facing redundancy, the closures are not taking place with immediate effect.

“A dedicated employee helpline is in place and the company is running an Employee Assistance Programme to help those staff facing redundancy find other jobs.”

The spokesman said stores which will remain open for business as usual will notify customers in advance of any closure so that they can return their 
outstanding rental items beforehand.

Lee Manning, joint administrator, said: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold.

“We would like to thank the company’s employees for their support and professionalism during this difficult time.

“We are also grateful to the customers for their continued support.”

Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, the business advisory firm, were appointed administrators to Blockbuster.

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