Blockbuster Is Latest Victim Of Recession


The DVD rental store goes into administration and local icecream shop remains closed

Blockbuster is the latest High Road casualty of the recession with the announcement that the firm has gone into administration.

Staff at the Chiswick store face an uncertain future after news that accountancy firm Deloitte is to run the firm while a buyer is sought. The chain has 528 stores and over 4,000 staff.

One staff member said they had received many messages of support from people in Chiswick following the news and they were just waiting to hear what would happen to their jobs.

On Saturday (Jan 19), it was announced that Blockbuster would close 129 more stores. It had already given 31 stores notice of closure. The chain has 528 stores and employs 4,190 staff.

Deloitte, the accountancy firm running Blockbusters, said 760 staff are now facing redundancy, but the closures are not taking place immediately. The business faced competition from online film distributors.

It is understood that gift cards and credit acquired through Blockbuster's trade-in scheme will be honoured towards the purchase of goods.

Mystery surrounds the future of Gelato Mio on the Chiswick High Road, which has not reopened after the Christmas break. A notice on the door said it would reopen on January 3rd. We have attempted to contact the owner of the store for comment on whether the shop will continue to trade.

The year has started off badly for several well-known stores. Music chain HMV and camera-seller Jessops both went into administration earlier this month.

Many people were unhappy with the administrators' decision not to accept HMV gift vouchers, some of which had been given as Christmas presents.

It is not yet known what will happen to HMV's branches and 4,350 staff. All of Jessops' 187 branches closed, including the nearest ones to Chiswick in Hammersmith and Shepherd's Bush, within days of administrators being appointed.

January 19, 2013