DEATHWATCH: Blockbuster goes into administration AGAIN

29 October 2013

Blockbuster_1 Blockbuster is all set to go under for the second time this year, with 2,000 jobs at risk. The video rental shop's private equity owners decided it was a lost cause and announced plans to appoint an administrator.

Gordon Brothers Europe said efforts to salvage the firm had failed.

The 264 shops will stay open while administrators try to find a buyer and vultures will circle looking for some bargains in the fire sale.

What is so surprising is that this all happened less than 12 months since the last time the administrators were called in. Sadly, the field of play had drastically changed since Blockbuster open its doors in 1989. With the advent of Netflix and filesharing, there's little point of the company on the high street. It is cheaper to buy films from supermarkets, rather than loan physical copies from a shop.

Blockbuster’s Stateside parent company went to the wall in 2010, later rescued in a £200million deal.

Gordon Brothers cheif exec, Frank Morton, said: "Since the acquisition we have worked extremely hard to reignite the Blockbuster brand, make our investment work and put the business on a viable footing. Despite our best efforts, we regret that we are now forced to make some redundancies and would like to thank any affected employees for their support during the last six months.”

Looks like this is the last call for Blockbuster.

TOPICS:   High Street News


  • zeddy
    I'll have a P please Bob.
  • Peter P.
    I'm struggling to think of a single thing they did differently after going into administration the first time. It's almost like they wanted it to fail...
  • Fat H.
    Blockbuster as a high street concern should already be dead and buried. I stopped using them way back in 2005 with ScreenSelect being a much cheaper alternative. How long before the entire physical media concept is dead?
  • Pete
    The studio's have pushed for online pay per view streaming and have overlooked one vital thing.....most people who watch these DON'T/WON'T PAY!!!! Unless they can remove this threat (which let's be honest they can't) the industry is heading the same as Blockbuster. At least with physical media they had some control, very soon they will have none. SKY PPV is stupidly expensive (especially when the total cost including monthly subscriptions is taken into account) and Lovefilm & Netflix are miles behind on new releases. Most of mates have already bought jailbroken streaming devices, they watch everything and pay for nothing.
  • grand
    They were a dinosaur when they first got into trouble, I'm not sure what the new owners thought they could do. Blockbuster's decision to turn down a partnership offer with Netflix in 2000 will go down as a legendarily bad decision.
  • jokester2
    THIS IS THE BEST NEWS I'VE HEARD IN AGES!!! I think many users on HUKD will agree with me here! They are useless, incompetent fraudsters who love conning people out of their money and they deserve to go bankrupt. I do feel slightly bad for the people that will be losing their jobs, but any of them with any common sense whatsoever saw this coming and will have been applying for other jobs!
  • Gary
    F*ck off, Tits. You definitely had that DVD out. I saw it at your mum's house when I was doing her up my namesake the other day. Bastard.
  • Tits m.
    Yeah Gary, I was seeing how may DVDs I could get on each nipple, I remember now. (12)
  • Gary
    Yeah Mrs McGee, and I'm still tender from you forcing that DVD under my foreskin. Can't believe it was the full Sopranos box set as well.
  • Terry
    Wow, comments area getting less and less amusing on here.. It's like everyones IQ is getting lower and all the comes out is the same as the comments before. "fucking moron" etc.. It's boring and not funny.
  • Haggis M.
    @Terry: see the face you love light up with a can of petrol.
  • thefunboithree
    @Terry "It’s like everyones IQ is getting lower" I don't think so, even if you meant it ironically.
  • cicobuff
    Precisely as Peter Prospar has said, no changes have been made to existing stores, what do they expect?
  • Terry
    Sorry, I should explain that i'm in a bad mood as I recently found out my wife has been cheating on me with the owner of the pub she works in.
  • Bob
    I have a BB by Post account and they haven't sent me any new discs since this announcement. My bet is they're getting as many discs back as they can before they go under for good.
  • the m.
    The gordon brothers set up ts operations to asset strip blockbusters and feed their other enterprises like "entertainment for less". When they saw they couldn't keep up the pretence until after christmas, they knowingly took peoples money for pre-orders without the intention of honouring them knowing that their money was safe (debenture) whilst funding the rest of the asset clear out. The only thi g left of value is the blockbuster database which they are currently I n the process of seeking the highest bidder. I would suggest that any blockbuster member write to headoffice and request their account closed and their details removed from their database. The recent VIP thing was purely set up to capture emails, phone numbers and addresses. Btw, if blockbuster still owe you money, expect only about 20% of it back from the administrators ( whilst the gordon brothers will be getting all theirs back at your expense!).

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