Blockbuster administrators plan to close 129 stores over the coming weeks as part of a phased closure, in addition to 31 which had already been put on notice of closure.
Administrators of the Blockbuster chain have confirmed plans to close 129 stores over the coming weeks as part of a phased closure, in addition to 31 which had already been put on notice of closure.
Blockbuster called in the administrators on January 15, blaming increased competition with online stores and digital streaming for its collapse.
There are 500 Blockbusters in the UK, employing 4,190 people.
The rental company has two stores in Lincoln, in the Carlton Centre and Lindis Retail Park, off Moorland Close. There are also stores in Stamford, Sleaford, Bourne, Wisbech, Grantham, Scunthorpe and Grimsby.
Administrators Deloitte did not say which stores are under closure threat, but said they will continue to review the profitability of the chain, and announcements of further closures may be made in coming weeks.
Stores will remain open for business as usual and customers will be notified in advance of closure so that they can return their outstanding rental items beforehand.
During this time there will be a number of closing down promotions across the stores.
Whilst staff in those stores affected by the closures will be facing redundancy, the closures are not taking place with immediate effect.
Joint Administrator Lee Manning said: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold.
“We would like to thank the company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support,” he added.
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