U.K. chain's 91 remaining stores will close by Dec. 16
LONDON — Movie rental chain Blockbuster is to shutter its U.K. operations after it failed to attract a buyer.
Private equity firm Gordon Brothers Europe, which bought Blockbuster in March, put it into administration — the U.K. equivalent to Chapter 11 — on Nov. 11. It had 264 stores, and employed 2,000 staff at that time.
The firm Moorfields Corporate Recovery was given the task of finding a new buyer, but has failed.
Now the 91 stores that remain – which have 808 employees — will close by Dec. 16.