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Blockbuster to close in Stamford and stay open in Bourne
The Stamford branch of DVD rental chain Blockbuster will close in the next few weeks - but the Bourne store will stay open for now.
Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, were appointed joint administrators for Blockbuster in January.
At that time, 129 stores out of 528 stores were earmarked for closure, but the branches in Ironmonger Street, Stamford, and the Burghley Centre, Bourne, were not on that list.
Deloitte revealed today (Wednesday) that a further 164 stores will close over the coming weeks, following an ongoing review of the portfolio and discussions with interested parties.
This includes the Stamford store but not Bourne. Staff at the Stamford store will be made redundant and an employee helpline has been set up. The administrators said there were an average of five people employed at each store.
Mr Manning 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.”
There will be a number of closing down promotions at the affected stores. Closing stores will remain open for business as usual and customers will be notified in advance of closure so that they can return their outstanding rental items beforehand. The standard rental terms and conditions remain in place during this time.
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Weather for Stamford
Friday 24 May 2013
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