Administrators for Blockbuster have confirmed today that Shanklin and Newport branches will be joining Cowes in closing down. This leaves just the branch in Ryde to serve the Isle of Wight.
Deloitte, the joint administrators to Blockbuster, say that 164 Blockbuster stores will be closed across the country over the coming weeks as part of a phased closure.
Employee helpline
Staff in the stores affected by the closures will be facing redundancy. A dedicated employee helpline is in place and the Company is running an Employee Assistance Programme to help those staff facing redundancy find other jobs.
Manning: “Further closures are necessary”
Lee Manning, Joint Administrator, 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 would like to thank the Company’s employees for their support and professionalism during this difficult time and we are also grateful for the continued support of customers. 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.”
Our thoughts are with all those whose jobs will be affected by the closures.
