Blockbuster set to close in national restructure
A MORPETH DVD and video games rental service is closing, it has been confirmed.
The Blockbuster outlet in Newgate Street will be one of 164 stores nationwide to shut in the coming weeks after its parent company went into administration.
Joint administrators at Deloitte say the phased closures are the result of an ongoing review of the Blockbuster portfolio and discussions with landlords.
No firm date has yet been given for the Morpeth store’s closure due to ongoing negotiations.
It is thought that around five members of staff are facing redundancy at the outlet and an employee assistance programme and helpline have been set up.
Join Administrator Lee 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.”
The shop will continue to trade as usual until its closure and there will be a number of closing down promotions.
Standard rental terms and conditions remain in place and customers will be notified in advance of the closing date so they can return outstanding rental items.
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Friday 24 May 2013
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