Blockbuster goes into administration, still accepting gift cards
High Street DVD rental firm, Blockbuster has become the latest company to enter administration.
Deloitte, the accountancy firm who will now take over the day-to-day running of the firm confirmed today that Blockbuster will still accept gift vouchers.
The retail chain, which has 528 stores employing 4,190 staff will continue to operate while administrators try to find a buyer.
Lee Manning from Deloitte’s Restructuring Services practice today 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.
“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 in the same month that HMV has entered administration and Jessops closed all 187 branches just days after appointing administrators.
Take a look at this week’s Blockbuster rental showcase, below: