Blockbuster to call it quits in the UK

Blockbuster is closing the doors on all of its remaining stores in the UK.

The decision was revealed in a statement Thursday by Moorfields Corporate Recovery, which was in administrative charge of the Blockbuster UK chain. All 91 remaining stores in the UK will close by December 16, resulting in a loss of 808 jobs, according to Moorfields. Any items still in stock will be sold by December 15 at up to 90 percent off the regular price.

An FAQ posted on Blockbuster's UK site offers full details for existing customers and subscribers.

"It is with regret that we have to make today's announcement, we appreciate this is a difficult time for all concerned and would like to thank staff for their professionalism and support over the past month," joint administrators Simon Thomas and Nick O'Reilly said in a statement. "Unfortunately, we were unable to secure a buyer for the group as a going concern and as a result had to take the regrettable action to close the remaining stores."

Blockbuster's UK business had been placed into the hands of administrators in January. Investment group Gordon Brothers bought 264 stores in March, but that effort failed to pay off, forcing the chain back into administrative hands.

This latest move is a further nail in the coffin of the once-popular DVD rental chain. In November, Blockbuster parent Dish announced plans to close all 300 of the remaining company-owned retail outlets as well as distribution centers in the US.

(Via Engadget)