2,000 jobs at risk in new Blockbuster collapse
Wednesday 30 October 2013
About 2,000 workers at DVD rental chain Blockbuster UK could lose their jobs as the company collapsed for a second time this year after the new owners failed to revive the ailing business.
The private equity firm Gordon Brothers Europe said the company could not survive despite negotiations with landlords, new marketing, and attempts to launch a digital platform to rival Netflix and Lovefilm.
It explained in a statement: "The company tried to develop a new digital platform but was unable to broker a licensing deal with Blockbuster UK's parent company in the US." It said there had also been "poor trading performance across both rental and retail sales." Gordon Brothers rescued Blockbuster in January after it went bust with the loss of 2,000 jobs and closure of half its 528 stores. The remaining 264 stores will continue trading as administrators seek a buyer.
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