Blockbuster UK latest retailer to go under

Blockbuster UK has gone into administration, following the collapse of HMV earlier this week.

Lee Manning, of joint administrator Deloitte, said:

“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

"The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.

"During this time gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods."

Blockbuster is the third UK media retailer to vanish this year, following HMV earlier this week and Play.com last week.