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Blockbuster in Kidderminster closes its doors
10:31am Friday 13th December 2013 in Local
BLOCKBUSTER in Kidderminster has closed its doors after the DVD and computer game rental firm went into administration.
The Crossley Retail Park store closed on Sunday with the loss of seven jobs.
Joint Administrators Simon Thomas and Nick O’Reilly of Moorfields Corporate Recovery have since announced that all remaining 91 stores across the UK will close this weekend affecting 808 employees.
Mr Thomas and Mr O’Reilly said: "It is with regret that we have to make this announcement, we appreciate this is a difficult time for all concerned and would like to thank staff for their professionalism and support over the past month.
"Unfortunately, we were unable to secure a buyer for the group as a going concern and as a result had to take the regrettable action to close the remaining stores.”
Blockbuster was placed into administration in January, with both Kidderminster and Stourport being named as stores that would close.
After Gordon Brothers Europe purchased 264 stores in March, Kidderminster was kept open. The firm then plunged back into administration in October.
Retail expert Dan Wagner, founder and chief executive of Powa Technologies, said: "The retail landscape is becoming more complex than ever before. Consumer buying behaviour has changed radically in the past twelve months with the plethora of mobile and handheld devices.
"The road to survival does not lie in aggressive discounting – in fact, it’s quite the reverse. The smart money is on the retailers who have made themselves easily available wherever their customers are wanting to buy.
"The harsh realities are that those who do not adapt to this new environment will follow in Blockbuster's footsteps in the not-to-distant future.”