Blockbuster in Staple Tye to close for good on Saturday
Business / Thu 5th Dec 2013 am31 09:30am
ALL rentals at Blockbuster DVD rental chain to cease trading from Saturday.
This will include the store at Staple Tye in Harlow.
Blockbuster collapsed for the first time in January, after losing business to online firms streaming films over the internet as well as offering rentals through the post.
It was sold to Gordon Brothers Europe in March.
Before its troubles began, the firm had 528 stores.
Gordon Brothers Europe said in a statement that it had “striven to turn around the historically loss-making company by restructuring the business, investing significantly in strategic marketing activities and negotiating with the landlords of its retail outlets”.
It added: “The company also tried to develop a new digital platform but was unable to broker a licensing deal with Blockbuster UK’s parent company in the US.
“Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales.”
Blockbuster is one of several High Street names to have come under pressure in recent times – particularly from online competitors.
Among them are camera chain Jessops, which has gone into administration; music and DVD group HMV, which has closed 66 stores; and electrical chain Comet, which closed its doors for the last time before Christmas last year.