Barnstaple Blockbuster avoids latest closures
- Credit: Archant
Administrators say Barnstaple is not on the list after it announced another 164 stores would be shutting down.
THE Barnstaple Blockbuster store has escaped a second round of closure after administrators announced a further 164 stores are to shut down.
Administrators Deloitte today (Wednesday) confirmed the latest casualties in the DVD and games rental chain following ongoing reviews and discussion with landlords or interested parties. The company was put into administration last month.
The joint administrators appointed by Deloitte said they would be shutting the additional stores over the coming weeks as part of a phased closure and staff wound be facing redundancy.
The remaining stores will continue to trade as usual ‘while administrators progress negotiations with bidders’.
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But a spokesperson for Deloitte confirmed the Barnstaple store was not on the list of those facing closure at this time.
For the rest, a dedicated employee helpline is in place and the company is running an Employee Assistance Programme to help those staff facing redundancy find other jobs.
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“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,” said joint administrator Lee Manning.
“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.”
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. The standard rental terms and conditions remain in place during this time.
There will be a number of closing down promotions across the stores to supplement those already on offer.