Blockbuster United kingdom finds a rescuing purchaser, keeps staff and retailers afloat

When Blockbuster’s Uk brand entered administration at the start of the 12 months, there have been concerns that it would in the long run demonstrate just an additional casualty of the inexorable move towards on the internet video. Not really: Gordon Brothers Europe, a personal equity company recognized for rescuing troubled organizations, has purchased Blockbuster’s British assets. The acquirer isn’t disclosing the income concerned, but it programs to hold 2,000 staff and 264 stores in complete swing whilst it plots a turnaround. That recovery is only described in vague terms at this stage, however — Gordon Brothers plans to carry “new products” and “new technologies” to the bruised retail chain. Even though we’re glad to see a 1-time cornerstone of video rentals get a second possibility, we hope that its bounce-back technique entails a far more futureproof assortment than aisles full of plastic discs.

[Thanks, Steven]

Filed under: Residence Entertainment


Via: Sky Information

Supply: Gordon Brothers Europe

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