Blockbuster Scraps Just Nine Jobs in London as 72 Stores Shut Across the UK

Blockbuster will only scrap nine jobs in London as the embattled retailer shuts 72 stores across the UK.

According to the company's administrator, 452 jobs will be lost across the country after the company faced a period of poor trading performance across both rental and retail sales since its acquisition for an unspecified amount by investment firm Gordon Brothers Europe in March.

Moorfields Corporate Recovery revealed that nine jobs would be lost as a result of two London branches of Blockbuster being axed - suggesting that the capital is still a profitable location for the employer

.In contrast, more than two in ten (21%) of the job losses will fall across Scotland and the chain's store on Mill Lane, Tamworth will suffer the biggest hit when 19 jobs are scrapped.

Administrators Simon Thomas and Nick O'Reilly of Moorfields, said they made the "regretful" decision after assessing the retailer's financial situation.

"This has not been an easy decision to make and we acknowledge that, with Christmas on the horizon, this will be extremely upsetting news to a large number of people most of all those affected by the store closures," the administrators said.

Thomas and O'Reilly said the move was part of an attempt to turnaround the business and the decision was "necessary" if parts of Blockbuster are to be saved and a buyer found.

The administrators added that discussions with potential buyers for parts of the company continue; staff can expect an update on the situation in a week.

The UK became Blockbuster's largest business outside of the US, where it was born.

It follows entertainment business HMV Group and digital photography specialist Jessops, both of which have recently succumbed to the difficult trading environment.