Credits roll for Barry's Blockbuster store (From Barry And District News)

Credits roll for Barry's Blockbuster store

8:50am Friday 25th January 2013 in News By Chris Seal

BARRY'S Blockbuster store is to close, after its parent company went into administration.

It is not known on what date the store will shut, but the Barry branch has been included in a group of 129 stores that will shut up shop in the coming weeks as part of a 'phased closure'.

31 stores had already been put on notice of closure before the recent announcement at the end of last week.

The store will be open for 'business as usual' until a further announcement is made.

Customers of the Holton Road video and DVD rental outlet have been told that they can use gift vouchers and any store credit.

A notice pinned on the door says: "The Administrators will continue to honour any gift vouchers but only to 50 per cent of the value to the purchase. For example, if you would like to purchase goods for £20, only £10 of vouchers would be accepted for this purchase."

The same principle applies to store credit. The statement added that gift vouchers would not be for sale and customers would not be able to accumulate trade in credits during the period of administration.

A statement from the company's administrators added: "During this time there will be a number of closing down promotions across the stores to supplement those already on offer across the estate.

"The Joint Administrators continue to review the profitability of the store portfolio and announcements of further closures may be made in coming weeks."

They added that they would be seeking to help those facing redundancy.

"Whilst staff in those stores affected by the closures will be facing redundancy, the closures are not taking place with immediate effect," the statement added.

"A dedicated employee helpline is in place and the Company is running an Employee Assistance Programme to help those staff facing redundancy find other jobs.

"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. The standard terms and conditions remain in place during this time."

Lee Manning, Joint Administrator, added: "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."

Lee Manning, Matthew David Smith and Neville Kahn, partners at Deloitte, the business advisory firm, were appointed Joint Administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited who trade as Blockbuster, the DVD and video games rental Company on January 16.