Blockbusters goes bust

Blockbusters has joined HMV and Jessops going into administration early in 2013, which like HMV will be handled by Deloitte. This will put a further 4,000 plus jobs at risk, the total number of jobs lost coming close to 10,000 in only two weeks of the new year.

The company operates over 500 retail outlets in the UK, which has become the lead weight around their necks as online competitors were able to beat them on price, not having expensive real estate to fund and less staff with largely automated automated downloads of films, blockbusters primary market.

While Deloitte tries to save as much value and protect as many jobs as possible by finding a buyer for the company in some form, they are going to honour the value that account holders may have through trading in games or DVD's and gift cards.