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Blockbuster in administration

DVD rental firm Blockbuster has become the latest UK High Street firm to go into administration after hitting hard times.

The chain has 528 stores employing 4,190 staff.

Deloitte, the accountancy firm which will now take over the day-to-day running of the firm, said Blockbuster had been affected by competition from internet-based film services.

http://www.bbc.co.uk/news/business-21047652

With rentals etc moving increasingly online not the biggest surprise.

During this time gift cards and credit acquired through Blockbuster's trade-in scheme will be honoured towards the purchase of goods

Hopefully anyone with gift cards or credit will be wise enough to get it spent whilst its still an option
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Comments

  • Another company providing an outdated service - they should have gone online and push a streaming service - it's a shame for those who lose their jobs.
  • i genuinely thought they went under years ago. there was one near me and it closed and became a tesco express.

    all these shops are doomed. there is no point. greedly landlords keep shops empty rather than lower rent.

    that said, i spoke to a landlord who's mortgage was say £1000 a month. his shop was empty and he found a tenant willing to pay £850 a month. the bank would not let him take the tenant as it didn't cover the mortgage. meanwhile, he can't afford to have it empty and pay £1000 at least his way, he would only need to top up £150 a month. madness.
  • alleycat`
    alleycat` Posts: 1,901 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Not a huge surprise.
    Another firm with a business model about 15 years out of date.
  • System
    System Posts: 178,374 Community Admin
    10,000 Posts Photogenic Name Dropper
    Another company providing an outdated service - they should have gone online and push a streaming service - it's a shame for those who lose their jobs.

    I thin they have one, but it's not as good as netflix/lovefilm etc.

    You can rent a film instantly on PS3/Xbox as well, why go all the way to blockbuster and pay £4 when you can sit on the sofa and hire a film out for £3.50 in about 4 presses of a remote.

    Everytime I see news about a company going bust lately the only thing that surprises me is how they are still around in the first place. Renting DVDs? Seriously who does that? Might as well open up a telegram shop.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Never been the same since Bob Holness left
    Official MR B fan club,dont go............................
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Blimey, I posted less than 24 hours that Blockbusters may be the next to go bust.
    http://forums.moneysavingexpert.com/showpost.php?p=58642567&postcount=10

    Don't really think this will be a great surprise, and not even sure it will be missed.

    GREAT while it was needed though. Used to spend many a saturday afternoon picking a DVD.
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    Oh no!

    We hire DVDs occasionally. We loved downloading from lovefilm but it took ages (rural Internet speed) and were never organised enough to plan days ahead for postal.

    I am also wondering how the deal sky signed to 'block' others from using films they are using will impact on film rental?
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Joeskeppi wrote: »
    I thin they have one, but it's not as good as netflix/lovefilm etc.

    You can rent a film instantly on PS3/Xbox as well, why go all the way to blockbuster and pay £4 when you can sit on the sofa and hire a film out for £3.50 in about 4 presses of a remote.

    Everytime I see news about a company going bust lately the only thing that surprises me is how they are still around in the first place. Renting DVDs? Seriously who does that? Might as well open up a telegram shop.

    Not to mention ITunes and Blinkbox. I personally find Blinkbox excellent.

    No sign up fees, rent as and when I want, plus, you can download the film, so no streaming issues. Can store it for 30 days without watching, or if you start watching, you have 48 hours.

    Netflix and Lovefilm are very poor in comparison. I'd go so far as saying netflix is absolutely shocking unless they have a series you want to watch on the cheap.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Joeskeppi wrote: »
    I thin they have one, but it's not as good as netflix/lovefilm etc.

    You can rent a film instantly on PS3/Xbox as well, why go all the way to blockbuster and pay £4 when you can sit on the sofa and hire a film out for £3.50 in about 4 presses of a remote.

    Everytime I see news about a company going bust lately the only thing that surprises me is how they are still around in the first place. Renting DVDs? Seriously who does that? Might as well open up a telegram shop.


    OK if you have a fast enough broadband connection
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    Not to mention ITunes and Blinkbox. I personally find Blinkbox excellent.

    No sign up fees, rent as and when I want, plus, you can download the film, so no streaming issues. Can store it for 30 days without watching, or if you start watching, you have 48 hours.

    Netflix and Lovefilm are very poor in comparison. I'd go so far as saying netflix is absolutely shocking unless they have a series you want to watch on the cheap.

    What is the range of films like Graham? For things that aren't new releases?
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