Blockbuster calls in administrators: Fears for future of three Hull stores
There has been yet another blow to the high street this afternoon after Blockbuster called in the administrators.
The DVD and video games rental company, which has three stores in Hull, has appointed Deloitte to handle the administration.
Lee Manning, joint administrator and partner in Deloitte's Restructuring Services practice, said: "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.
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"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."
Comments
by takeitinmy
Thursday, January 17 2013, 9:38AM
“£6 to rent a game or new DVD. It was £5 a few months ago. Even the sale items are more pricey then other shops for 2nd hand media.
If the prices were competitive, then maybe it'd get customers back. I'm one of a long line that no longer buys from there...
I'd go back if the prices were realistic.”
by zeebling
Thursday, January 17 2013, 4:27AM
“Dear HDM,
Please, please, please can we comment on the musings and wisdom of intellectual heavyweight and all round good guy Mr.D George.
Please.”
by AishaDelaney
Wednesday, January 16 2013, 10:11PM
“@smartguy1
I completely agree, companies trading in the UK like Amazon, Topshop/Topman/Arcadia Group, Vodafone, Starbucks, Tesco, Betfred, William Hill evade tax by having an offshore office but should pay a lot more UK tax. It's so wrong, but the government have allowed these to trade in this way.
Amazon funnels it's money through 4 different companies to it's Luxembourg operation paying a pittance of what it should. Betfred and William Hill are both Gibraltar based and pay less corporation tax for their online trading. Vodafone owe £6 billion, yet the government lets them get away with it.
I just avoid companies which operate in this way.”
by PatrickNewman
Wednesday, January 16 2013, 8:58PM
“Smartguy1: you have just described why austerity will not work.”
by bazza_12
Wednesday, January 16 2013, 8:58PM
“are we not allowed to comment on the shane george case?”
by smartguy1
Wednesday, January 16 2013, 8:49PM
“It's sad that all these people are losing their jobs but the council will also be losing a fortune in rent and rates. Where are they going to re-coup that from. Loss of services, more council staff reductions or increase in council tax. We could all end up paying for the failings of these companies whilst companies such as A*A*O* (same name as the famous river and jungle) line their pockets even more and fail to pay any or little uk tax. To me any company that trades in this country should pay uk corporation tax. They must be laughing their online socks off and rubbing their hands with £ or $ signs in their eyes. I wonder if anyone has done any checking on our favourite auction site or is that another company that makes millions but is registered in some foreign land. We all love the internet but it has a lot to answer for.”
by smartguy1
Wednesday, January 16 2013, 8:49PM
“It's sad that all these people are losing their jobs but the council will also be losing a fortune in rent and rates. Where are they going to re-coup that from. Loss of services, more council staff reductions or increase in council tax. We could all end up paying for the failings of these companies whilst companies such as A*A*O* (same name as the famous river and jungle) line their pockets even more and fail to pay any or little uk tax. To me any company that trades in this country should pay uk corporation tax. They must be laughing their online socks off and rubbing their hands with £ or $ signs in their eyes. I wonder if anyone has done any checking on our favourite auction site or is that another company that makes millions but is registered in some foreign land. We all love the internet but it has a lot to answer for.”
by SPBlakeney
Wednesday, January 16 2013, 8:12PM
“Signs of how we're shopping, and where, unfortunately. Internet shopping/film streaming, tvs/computers/washers by mail order, cheap digital cameras, recession or no, time and progress would have pushed all the failed companies to the brink. Awful news for jobs and staff, regardless, a bad start to 2013”
by reallyyoung_G
Wednesday, January 16 2013, 8:12PM
“Years ago the main name for film rental (in Hull anyway) was Pharaohs.”
by mehearties
Wednesday, January 16 2013, 8:04PM
“Disney shop, Jessops, Comet, Blockbuster, HMV, all within a month or so.....
Worrying times for the High Street.”