Blockbuster UK goes into administration
Do you think we might ever get to the position where high street shops are exempt from rates or are we likely to face a high street made up exclusively of things you cant buy on the internet like a coffee or a haircut?
I really do think the old rating regime is completely out of kilter with modern trends. We have to find some way of a human face inside bricks and mortar in a town not being at the wrong end of an uneven playing field when it comes to providing people with retail options. That is unless we want all end up celebrating a virtual reality lifestyle!! As this article tells us Blockbuster have joined the latest in a long line of failing retail businesses. We now have over 70 bookings for our seminar on town centres next week but we can still fit you in if you would like to come and join the debate!!
Blockbuster, the video and games rental company, has become the latest high street name to collapse into administration.
The rising popularity of internet film rental services like iTunes and Lovefilm have taken their toll on Blockbuster’s 528 high street video rental stores, and the company is now loss-making.
The chain’s collapse, which puts 4,190 jobs at risk, follows that of music retailer HMV earlier this week and will be seen as yet another sign of the devastating impact of the internet on bricks and mortar retailers.
Blockbuster is owned by the satellite broadcaster Dish Network, which was reported to have put the loss making UK business up for sale last year. It is understood Blockbuster’s US and Danish businesses continue to trade as normal.
The company announced on Wednesday it had appointed Deloitte as administrator of its UK arm, which will continue to trade as it seeks a buyer for all or parts of the business