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The British arm of 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.
The games and entertainment retailer operates 264 stores in the UK and employs more than 2,000 people. Earlier this year the troubled chain was saved from extinction by Gordon Brothers Europe which bought the company and hoped to turn its fortunes around, with online initiatives and increased in-store footfall.
"Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales," offered a company statement today, along with the announcement of 32 job losses at its UK head office.
In the last few years. several British retail chains that sold games have gone bust, falling victim to poor economic conditions and a trend towards online and digital shopping, including Woolworths and HMV.
