Blockbuster sells off its retail stores
Blockbuster's chain of film and computer game rental shops in Britain has been sold to an investment firm, two months after the struggling retailer went into a form of bankruptcy protection, writes Peter Griffiths.
Deloitte, which took control of Blockbuster's British operations after it entered administration on January 16, said the company had been sold to Gordon Brothers Europe for an undisclosed sum.
The global restructuring specialist will keep 264 of Blockbuster's 528 stores, safeguarding the jobs of half its 4,190 staff.
Blockbuster fell victim to increased competition from supermarkets and the shift towards people watching films over the internet. (Reuters)