December 7 2013 Latest news:
Wednesday, January 16, 2013
DVD and video games rental firm Blockbuster has gone into administration, putting more than 4,000 jobs at risk.
The chain, which has 528 stores in the UK – including three in Ipswich and one in Felixstowe, Stowmarket, Lowestoft and Bury St Edmunds – employs 4,190 staff.
Deloitte, which is handling the administration, said the collapse was driven by competition from internet firms and digital streaming of movies and games.
The Uxbridge-based business opened its first store in London in 1989.
It comes after high street store HMV called in the administrators yesterday.
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