Blockbuster’s woes extend across the pond, it seems. Blockbuster UK, a subsidiary of Dish-owned Blockbuster LLC, has filed for administrative relief, which is a British form of bankruptcy protection.
BB UK currently operates about 530 stores and employs more than 4,000 people.
Lee Manning, who is in charge of Blockbuster U.K. for Deloitte, a financial risk-management company, said the following about the filing:
“We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors,”
Here’s the question: is there someone out there looking to purchase a declining company based around an obsolete business model?
[via Home Media Magazine]