Stores to be rebranded but 450 staff retained
The sale, brokered by administrator PricewaterhouseCoopers (PwC), will secure employment for about 450 employees across the 59 stores, which will be rebranded as Blockbuster.
PwC joint administrator Nick Cropper said: “It enables the stores to operate under the renowned Blockbuster brand, backed by a strong management team with in-depth retail experience, serving customers with the wide range of products and services Blockbuster offers throughout the UK. Our priority now is to focus all our efforts on achieving a sale of all or part of the remainder of the store portfolio.”
Blockbuster Europe managing director Martin Higgins said: “Our goal is to be a complete source for home entertainment and during the past several months we’ve focused on a number of key initiatives, including expanding our retail selection of movies and games and improving our rental proposition.
“These enhancements, along with our growing games business, trade-in system and DVD By Post, give consumers more options that we believe can satisfy their home entertainment needs. We look forward to making all these programmes available to customers under the Blockbuster name in our newly acquired stores.”
Choices UK went into administration on August 22. The business is split into three parts: retail, local and direct. The administrator sold the local and direct parts of Choices UK on September 4 to Findel on behalf of its associate company Webb Group.