Blockbuster goes into administration, still accepting gift cards

High Street DVD rental firm,  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 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 ’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 rental showcase, below:

Nick Barnes

Nick is a Business & I.T student from Manchester. He was Managing Editor at imediamonkey® for quite some time, after joining the team in January 2012.

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1 comment on Blockbuster goes into administration, still accepting gift cards

  1. avatar Nick Barnes says:

    I can’t say I didn’t expect it… the same applies for HMV. The internet has taken over and we’re still in the early days. It may well be sad that firms are being put out of business by the internet, but the fact of the matter is, the internet is the future. People don’t like change, but we’ve no choice to change and move with the times.

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