Blockbuster UK sold to Gordon Brothers Europe

Further to their announcement today, the Joint Administrators to Blockbuster confirm that the business has been sold to restructuring specialists Gordon Brothers Europe for an undisclosed sum.

The 264 stores across the UK and Channel Islands will continue to operate on a ‘business as usual’ basis saving over 2,000 British jobs. The deal will see substantial investment from Gordon Brothers Europe, which intends to fully utilise the existing trading platform, powerhouse brand and extensive customer database. The company will focus on enhancing the customer experience through the use of new product offerings, new technologies and better basic retailing helping Blockbuster become a viable business once again.

Last month Gordon Brothers Europe lent its global expertise to improve the trading position of the ailing Republic fashion chain driving a 2.5 times increase in sales, whilst maintaining a stable margin that facilitated a going concern trade sale.

Former HMV UK and Ireland Commercial Director Gary Warren has been appointed as Managing Director of Blockbuster. With over 20 years working in the retail sector, Warren’s experience also includes a high-powered role at HMV North America and Canada, as Vice President of Operations and Product from 2001 – 2005.