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Wednesday, 16 January 2013

Blockbuster in administration

Blockbuster UK has called in the administrators in the third major collapse of a retailer this year following Jessops and HMV according to Sky News.

The company has 528 stores across the UK, and employs 4,190 people.

Deloitte's have been appointed joint administrator, and they said Blockbuster faced increasing competition from the internet and the shift to online streaming of movies and games.

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