Safe for now: The Lincoln Blockbuster store is safe after another round of shop closures in the second administration of the company this year.
Entertainment shop Blockbuster will not close down in Lincoln, saving a number of jobs, despite national closures in the chain.
As previously reported, Blockbuster went into administration for the second time last month.
Its current owners, Gordon Brothers Europe, acquired the company at the beginning of they year, when Blockbuster’s troubles first began
The initial reason for administration was increased competition from the online market, forcing a number of store closures, including one in Lincoln, the Moorland Way store.
Gordon Brothers Europe took on the company with the hope of an increased focus on gaming.
However, this attempt did not prove successful, and led to administration and 32 senior management redundancies.
Now, as part of administration proceedings, 72 stores across the country will close out of 264.
Administrators Moorfields Corporate Recovery said: “This has not been an easy decision to make and we acknowledge that, with Christmas on the horizon, this will be extremely upsetting news to a large number of people most of all those affected by the store closures.
“We must reiterate that, as part of our attempts to turnaround the business, today’s decision is necessary if parts of Blockbuster are to be saved and a buyer found.”
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