Administrators for Blockbuster announced it would axe 129 stores over the coming weeks, but the Chichester store will stay open.
Plans to close 129 of the firm’s 528 stores were announced today (January 19), in addition to 31 which had already been put on notice of closure.
However the Chichester store in Market Road, will remain open as usual.
The Joint Administrators continue to review the profitability of the store portfolio and announcements of further closures may be made in coming weeks.
Lee Manning, Joint Administrator, added: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold. We would like to thank the company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”
Lee Manning, Matthew David Smith and Neville Kahn, partners at administrator Deloitte, were appointed Joint Administrators to Blockbuster, on January 16.
Comments