Thursday, October 02, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Intel Releases Internet of Things Developer Kit
Twitter Invests $10 million On MIT Project Related To Social Data Analysis
Internet Explorer and the Windows 10 Preview
ARM Announces Device Platform and Free Operating System For Internet of Things Deployment
ZOTAC Injects Palm-Sized ZBOX nano XS with Double Dose of Performance
Corsair Releases The Flash Voyager Vega Flash Drive
Mozilla Unveils Firefox-powered Matchstick Streaming Adapter
New ARM Solutions Reduce Time to Market for FinFET Designs
Active Discussions
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
 Home > News > Consumer Electronics > Blockbu...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, January 16, 2013
Blockbuster UK Goes Into Administration


DVD rental firm Blockbuster will go into administration after struggling against internet competitors.

Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte business advisory firm, have been appointed Joint Administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited who trade as Blockbuster, the DVD and video games rental company.

Blockbuster is headquartered in Uxbridge, with 528 stores across the UK employing 4,190 staff.

Lee Manning, Joint Administrator and Partner in Deloitte?s Restructuring Services practice, commented: "In recent years Blockbuster has faced increased competition from, internet based providers along with the shift to digital streaming of movies and games.

"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.

"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 first Blockbuster store in the UK opened in south London in 1989. The firm launched an online DVD rental operation in 2002, and the company's website, blockbuster.co.uk, sends out more discs per customer than other online DVD rental services in the UK.

However, this online rental market became increasingly crowded with rival services, with consumers' interest in streaming films over the internet is growing fast.

Blockbuster UK has closed more than 100 outlets in the past few years.

Blockbuster went bankrupt in the US in 2011, but was rescued by US pay-TV provider Dish Network in a $320m deal, which saved hundreds of stores from closing.


Previous
Next
Calxeda, Intel And Others Join Facebook's Open Compute Project        All News        Galaxy Tabs Do Not Infringe Apple's Design. Dutch Cort Rules
Sharp To Sell TV Plant to Lenovo     Consumer Electronics News      MediaTek Extends Its Licensing Partnership With Imagination Technologies

Get RSS feed Easy Print E-Mail this Message

Related News
Blockbuster Stores Offer Clearance Deals
Blockbuster To Close All Retail Stores
Blockbuster Offers Streaming Movie Service For Dish Customers
New Blu-ray Player From Onkyo Offers BLOCKBUSTER On Demand
BLOCKBUSTER On Demand Now Available on the Latest Philips Blu-ray Players
Samsung to Roll Out BLOCKBUSTER On Demand Services for Select Samsung Products
Blockbuster OnDemand Services Available in Samsung HDTVs, Home Theater Systems and Blu-ray Players
BLOCKBUSTER OnDemand Available Through The TiVo Service
Blockbuster and Sonic/CinemaNow Team for Internet Movie Delivery
Blockbuster Releases New Set-top Box
Blockbuster Promotes Blu-ray Movies in Kiosks

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .