Blockbuster stores in Exeter, Exmouth and Newton Abbot escape first round of closures
Blockbuster stores in Exeter, Exmouth and Newton Abbot have been spared the axe – for the time being at least – after administrators announced plans to close 129 branches.
Those earmarked for closure will be wound down over the coming weeks, along with 31 shops which had already been put on notice of closure.
Administrators from Deloitte are continuing to review the profitability of Blockbuster's remaining 368 stores and more closures are expected to be announced in the coming weeks.
A spokeswoman for the administrators said the first round of store closures did not include the branches in Fore Street, Heavitree; Cowick Street, St Thomas; Chapel Street, Exmouth, or Queen Street, Newton Abbot.
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."
The DVD and video games rental chain followed recent retail casualties – including Jessops, HMV and Comet – when it went into administration last week. The company employs 4,190 staff at 528 stores across the UK.