The U.K. arm of Blockbuster will shutter an additional 62 stores this week, resulting in the loss of 427 employees, joint administrators Simon Thomas and Nick O'Reilly of Moorfields Corporate Recovery LLP confirmed.
All affected stores will be closed by Dec. 8. This follows news from earlier last month in which administrators announced the closure of an additional 72 of its 264 stores in the region.
In November it was revealed Blockbuster parent company Dish Network will close all remaining corporate-owned Blockbuster retail locations in the U.S. by early January 2014. The company will also end Blockbuster's DVD by mail service by mid-December and shutter its distribution centers. The closure of approximately 300 stores will not have an effect on franchise or licensed retail stores in the U.S. or abroad.
Blockbuster has entered administration for the second time in a year, meaning the company is seeking a buyer in an effort to stave off collapse.
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