Blockbuster’s administrator Deloitte is to close 129 of its 528-store portfolio as it looks to slim down its estate to a “profitable core”.

Deloitte said the 129 stores would close over the coming weeks as part of a phased closure in addition to 31 stores which had already been put on notice of closure prior to its administration.

During this time there will be a number of closing down promotions across the stores.

The DVD rental chain collapsed into administration last week after admitting competition from online competitors had made trading difficult.

Deloitte said it continues to review the profitability of the store portfolio and it may give notice of further closures in the coming weeks.

Stores will remain open for business as usual and customers will be notified in advance of closure so that they can return their outstanding rental items beforehand.

Joint administrator Lee Manning said: “Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the company to a profitable core which is capable of being sold.

“We would like to thank the company’s employees for their support and professionalism during this difficult time. We are also grateful to the customers for their continued support.”