The Blockbuster Video shop in Blatchington Road, Hove, is threatened with closure after the rental chain went into administration yesterday (Wednesday 16 January).
The shop rents and sells DVDs and video games and is continuing to trade while the administrators try to find a buyer for the business.
Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, the accountants, have been appointed joint administrators.
Mr Manning said: “In recent years Blockbuster has faced increased competition from internet-based providers along with the shift to digital streaming of movies and games.
“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.
“The core of the business is still profitable and we will continue to trade as normal in both retail and rental while we seek a buyer for all or parts of the business as a going concern.
“During this time, gift cards and credit acquired through Blockbuster’s trade-in scheme will be honoured towards the purchase of goods.”
The news comes within a week of HMV going into administration and Jessops closing. HMV has a store in Churchill Square, Brighton, and Jessops had a branch in Queen’s Road, Brighton.
Comet and JJB Sports closed before Christmas. Comet had stores in Lewes Road, Brighton, and at the Goldstone Retail Park in Old Shoreham Road, Hove. JJB Sports was also at the Goldstone Retail Park and its premises are now occupied by Sports Direct.
🙁 Has been a very useful way of keeping screaming teenagers quiet for a few hours 🙁