Anxious time for Blockbuster staff in Exeter, Exmouth and Newton Abbot as administrators called in
More jobs are under threat in Exeter, Exmouth and Newton Abbot after Blockbuster became the latest big name retailer to go into administration.
Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, have been appointed joint administrators to the DVD and video games rental company.
Headquartered in Uxbridge, Blockbuster employs 4,190 staff at 528 stores across the UK, including branches in Fore Street, Heavitree, and Cowick Street in Exeter; Chapel Street, Exmouth; and Queen Street, Newton Abbot.
Blockbuster follows Jessops and HMV in calling in administrators in the past week.
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Blockbuster stores remain open as normal while Deloitte seek a buyer to save some or all of the business.
Mr Manning said: "In recent years Blockbuster has faced increased competition from internet based providers along with the shift to digital streaming of movies and games.
"We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.
"The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern. During this time gift cards and credit acquired through Blockbuster's trade-in scheme will be honoured towards the purchase of goods."