Blockbuster UK Goes Into Bankruptcy

The entertainment retailer Blockbuster UK on Wednesday went into administration, a form of bankruptcy, and appointed Deloitte to seek a buyer for all or parts of the business. The move came a day after a rival, HMV, announced that it had entered administration. Deloitte, which took control of HMV on Tuesday, said Wednesday that Blockbuster’s 528 stores would continue to operate as usual while it sought a buyer. Blockbuster UK, which has 4,190 employees, is part of Blockbuster L.L.C., which Dish Network, a U.S. satellite television company, bought at a bankruptcy auction in 2010. Blockbuster has more than 2,500 stores in the Americas, Asia, Europe and Australia, according to the company’s Web site, but only the British stores are going into administration. read more at: http://www.nytimes.com/2013/01/17/business/global/blockbuster-uk-goes-into-bankruptcy.html?ref=bankruptcies&_r=0