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."