Blockbuster stores to remain open for now

Blockbuster Video, Ironmonger Street, Stamford.'Photo: MSMP160113-028ow
Blockbuster Video, Ironmonger Street, Stamford.'Photo: MSMP160113-028ow
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Blockbuster stores in Stamford and Bourne will remain open for now despite the firm entering administration.

Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, were appointed joint administrators to Blockbuster on Wednesday.

They have revealed plans to close 129 stores out of 528 stores over the coming weeks.

The stores in Ironmonger Street, Stamford, and the Burghley Centre, Bourne, are not included in that list. But Deloitte said further closures could be announced over the next few weeks.

Joint administrator Lee Manning said: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold.

“We would like to thank the company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”

Last week, the administrators said there were an average of five people employed at each store.