Blockbuster stores in Derbyshire may not be safe after all – after administrators for the firm announced plans to close a further 164 stores.
Business advisory firm Deloitte say the decision is based on ‘an ongoing review of the portfolio and discussions with landlords and interested parties’, but is yet to say which outlets face the axe.
The remaining stores will continue to trade as usual while administrators progress negotiations with bidders.
Joint administrator Lee Manning, said: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the company for sale.”
He continued: “We would like to thank the company’s employees for their support and professionalism during this difficult time and we are also grateful for the continued support of customers.
“We are in discussions with a number of parties interested in purchasing all or parts of the business and will update on progress in due course.”
Deloitte says there will be a number of closing down promotions across the stores - but all staff at the stores closed will be made redundant. The number of people affected is yet to be announced.
In January the administrators said outlets in Derbyshire would be safe from closure, but that it would ‘continue to review the portfolio’.
A dedicated employee helpline is in place on 0845 302 2547 and the company is running an employee assistance programme to help those staff facing redundancy find other jobs.
Closing stores will remain open for business as usual and customers will be notified in advance of closure so that they can return their outstanding rental items beforehand.