Video rental firm Blockbuster enters administration

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Blockbuster stores in Kettering, Corby and Wellingborough are among hundreds nationwide affected by the company’s entry into administration.

The DVD and video game rental firm employs 4,190 staff in its 528 outlets, including at Northall Street, Kettering, Alexandra Road, Corby, and Cambridge Street, Wellingborough.

Administrator Deloitte confirmed the move this afternoon (Wednesday, January 16).

It is the latest in a series of recent high street casualties, with HMV and Jessops among the well-known brands to enter administration in recent days.

Blockbuster will continue to accept gift cards and credit bought through its trade-in scheme for second-hand movies and games, as well as operating its loyalty scheme.

Lee Manning, joint administrator and partner in Deloitte’s restructuring services practice, 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.”

Blockbuster’s US parent firm went bankrupt in 2011 before being bought out by US pay-TV provider Dish Network in a $320m deal.