Future brighter for town store

Blockbuster Video.

Blockbuster Video. - Credit: Archant

THE future is looking brighter this week for those working at the Weston branch of a retail store.

The fate of Blockbuster in Weston has been uncertain over the past few weeks since the DVD rental giant was placed into administration, but this week employees have received better news.

Earlier this month the company announced plans to close 129 of its branches around the UK and then this week its joint administrators confirmed they intend to shut an additional 164 stores over the coming weeks as part of a phased closure.

However, they have confirmed the Winterstoke Road store in Weston has been included in any round of planned closures so far.

Although its immediate future has been secured, Blockbuster’s long-term presence in the town remains in the balance while the company searches for a new owner.

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Blockbuster currently has 528 stores in UK, employing more than 4,000 staff.

However Blockbuster Entertainment Limited and Blockbuster GB Limited, who trade under the Blockbuster name, were both placed into administration this month.

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Staff in the stores affected by the closures will be facing redundancy.

This week British supermarket chain Wm Morrison said it had bought 49 stores from the administrators of the DVD-rental chain but did not disclose the terms.

Company bosses said they will convert the stores into small local supermarkets under the M local name and hopes to have the stores up and running by the end of the summer.

A spokesman for Blockbuster’s administrators said: “We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the company for sale.

“We are in discussions with a number of parties interested in purchasing all or parts of the business and will update on progress in due course.”

Blockbuster’s news comes a month after photography retailer Jessops pulled out of Weston High Street after it was plunged into administration and at a similar time that it was announced Topshop was closing its High Street store for unknown reasons.

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