Our Blockbuster on closure list
3:10pm Thursday 24th January 2013 in News
BLOCKBUSTER in Grays is set to close after the DVD and video rental retailer went into administration last Wednesday.
Deloitte, who were appointed administrators as the firm’s financial troubles came to light, announced on Friday the store in Grays, which is in a prominent unit on the high street, will be one of 129 stores across the UK to close.
The store in Corringham remains under threat, but was not deemed to be one of the less profitable branches and is likely to remain open for the foreseeable future.
Staff at the Grays store, which will not close immediately, now face redundancy in the coming weeks.
Lee Manning, joint Administrator, said: “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.”