Blockbuster goes into administration

The Bolton News: Blockbuster goes into administration Blockbuster goes into administration

DVD and video games rental firm Blockbuster UK has gone into administration, putting more than 4,000 jobs at risk.

Deloitte, which is handling the administration, said the collapse was driven by competition from internet firms and digital streaming of movies and games.

Blockbuster has shops in Bolton, Horwich, Westhoughton, Walkden and Bury.

The Uxbridge-based business opened its first store in London in 1989 and now trades from 528 outlets employing 4,190 staff.

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2:57pm Wed 16 Jan 13

MarkAllRead says...

I was only in there yesterday. I said "Can I have Batman Forever?". He said "no, you have to bring it back tomorrow".
I was only in there yesterday. I said "Can I have Batman Forever?". He said "no, you have to bring it back tomorrow". MarkAllRead

3:40pm Wed 16 Jan 13

Harry-Joe says...

Woolworths, Jessops, Blockbuster, HMV, and many more.
Our high streets will be empty soon and now even more people jobless.
Internet shopping is convienient but its ruining local jobs and high streets.
Woolworths, Jessops, Blockbuster, HMV, and many more. Our high streets will be empty soon and now even more people jobless. Internet shopping is convienient but its ruining local jobs and high streets. Harry-Joe

4:18pm Wed 16 Jan 13

larry58 says...

Harry-Joe wrote:
Woolworths, Jessops, Blockbuster, HMV, and many more.
Our high streets will be empty soon and now even more people jobless.
Internet shopping is convienient but its ruining local jobs and high streets.
Also some these internet companies are hiding behind foreign counties tax laws and not paying their way in this country
[quote][p][bold]Harry-Joe[/bold] wrote: Woolworths, Jessops, Blockbuster, HMV, and many more. Our high streets will be empty soon and now even more people jobless. Internet shopping is convienient but its ruining local jobs and high streets.[/p][/quote]Also some these internet companies are hiding behind foreign counties tax laws and not paying their way in this country larry58

5:54pm Wed 16 Jan 13

georgethebrave says...

I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people!
I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people! georgethebrave

5:54pm Wed 16 Jan 13

Count de Monet says...

Harry-Joe wrote:
Woolworths, Jessops, Blockbuster, HMV, and many more.
Our high streets will be empty soon and now even more people jobless.
Internet shopping is convienient but its ruining local jobs and high streets.
Jessops & HMV both operated online as well as via high street stores. Maybe both these companies plus Comet, should have built up the online side of their businesses over the last 10 years or more in order to hold their own against the competition.
[quote][p][bold]Harry-Joe[/bold] wrote: Woolworths, Jessops, Blockbuster, HMV, and many more. Our high streets will be empty soon and now even more people jobless. Internet shopping is convienient but its ruining local jobs and high streets.[/p][/quote]Jessops & HMV both operated online as well as via high street stores. Maybe both these companies plus Comet, should have built up the online side of their businesses over the last 10 years or more in order to hold their own against the competition. Count de Monet

8:03pm Wed 16 Jan 13

Brit moaner says...

georgethebrave says...
5:54pm Wed 16 Jan 13
I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people
Good on yer st George the meek !!!
georgethebrave says... 5:54pm Wed 16 Jan 13 I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people Good on yer st George the meek !!! Brit moaner

10:05pm Wed 16 Jan 13

georgethebrave says...

Brit moaner wrote:
georgethebrave says...
5:54pm Wed 16 Jan 13
I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people
Good on yer st George the meek !!!
Why do not agree with me moaner? Do you think we should continue to give handouts to people who only come here with the intention of raping our system dry? Wake up man!
[quote][p][bold]Brit moaner[/bold] wrote: georgethebrave says... 5:54pm Wed 16 Jan 13 I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people Good on yer st George the meek !!![/p][/quote]Why do not agree with me moaner? Do you think we should continue to give handouts to people who only come here with the intention of raping our system dry? Wake up man! georgethebrave

10:26pm Wed 16 Jan 13

Citizen Cane says...

The demise of Blockbuster has very little to do with immigrants.

There is a huge benefits problem which needs to be addressed, indeed the payouts need to be halved. So pensioners will get half the state pension and benefit surfers will still get £13k per annum. This will not solve the immigrant problem but it does illustrate the magnitude of the benefits problem.

The way to solve the immigrant problem is: 1) follow the Greeks - they refuse asylum to virtually every immigrant and 2) stop benefits entirely for any immigrant until they have paid tax for ten years. The flood would dry-up overnight.
The demise of Blockbuster has very little to do with immigrants. There is a huge benefits problem which needs to be addressed, indeed the payouts need to be halved. So pensioners will get half the state pension and benefit surfers will still get £13k per annum. This will not solve the immigrant problem but it does illustrate the magnitude of the benefits problem. The way to solve the immigrant problem is: 1) follow the Greeks - they refuse asylum to virtually every immigrant and 2) stop benefits entirely for any immigrant until they have paid tax for ten years. The flood would dry-up overnight. Citizen Cane

11:01pm Wed 16 Jan 13

sunfun says...

Who rents videos any more? Just stream online Blockbusters are 8 years behind the times, jesops who buys cameras anymore my phone dose the snapping, hmv download from Itunes to my phone
Who rents videos any more? Just stream online Blockbusters are 8 years behind the times, jesops who buys cameras anymore my phone dose the snapping, hmv download from Itunes to my phone sunfun

3:35am Thu 17 Jan 13

Count de Monet says...

sunfun wrote:
Who rents videos any more? Just stream online Blockbusters are 8 years behind the times, jesops who buys cameras anymore my phone dose the snapping, hmv download from Itunes to my phone
Lots of people buy cameras because they want to take good quality photos. Phones for phone calls - cameras for photos.
[quote][p][bold]sunfun[/bold] wrote: Who rents videos any more? Just stream online Blockbusters are 8 years behind the times, jesops who buys cameras anymore my phone dose the snapping, hmv download from Itunes to my phone[/p][/quote]Lots of people buy cameras because they want to take good quality photos. Phones for phone calls - cameras for photos. Count de Monet

9:36am Thu 17 Jan 13

MarkAllRead says...

I have a Lumia 920, the first phone with optical image stabilisation. It's pretty much the best camera in a phone ever made. But it's still **** compared to most modest proper cameras.
I have a Lumia 920, the first phone with optical image stabilisation. It's pretty much the best camera in a phone ever made. But it's still **** compared to most modest proper cameras. MarkAllRead

12:03pm Thu 17 Jan 13

cosmicma says...

1985: First Blockbuster store opens in Dallas.

1994: Viacom acquires Blockbuster for $8.4 billion.

1997: Reed Hastings returns Apollo 13 to Blockbuster six weeks overdue, and is dismayed by the $40 late fee.

1998: Reed Hastings founds Netflix.

1999: Viacom holds Blockbuster IPO, valued at up to $4.8 billion.

2000: Blockbuster declines several offers to purchase Netflix for a mere $50 million. Instead, the company inks a 20-year deal to deliver on-demand movies with Enron Broadband Services, a subsidiary of energy trading giant Enron.

2001: Enron files for bankruptcy amid accounting scandal.

2002: Blockbuster debuts Super Bowl ad starring the voices of Jim Belushi and James Woods, as a rabbit and a guinea pig. The company posts a $1.6 billion loss.

2003: Netflix posts first profit, earning $6.5 million on revenues of $272 million. Redbox launches a kiosk rental service.

2004: Blockbuster enters online DVD rental market. Netflix CEO Reed Hastings tells analysts in an earnings call, "In the last six months, Blockbuster has thrown everything but the kitchen sink at us." The following day, Hastings receives a package from Blockbuster. Inside: a kitchen sink.

2005: Blockbuster launches a marketing campaign touting its new "No Late Fees" policy. Subsequently, 48 states launch investigations into the program, charging Blockbuster with misrepresenting its late fee policy to customers. Blockbuster settles for $650,000.

2006: Blockbuster, now valued at $500 million, surpasses its goal of two million subscribers for its online platform. Netflix reaches 6.3 million subscribers by December.

2007: Blockbuster hires new CEO Jim Keyes, formerly of 7-Eleven. Keyes decides to roll back the company's Total Access plans. "Clearly our spending on that one channel was exceeding our returns," he said during a company earnings call. After losing a half-million subscribers in the third quarter, Blockbuster announces it will no longer report its subscriber count.

2008: Blockbuster proposes buying struggling electronics chain Circuit City. Blockbuster soon withdraws its offer after it's universally panned. Circuit City files for bankruptcy in November. Keyes also expresses doubt about Netflix in an interview: "I've been frankly confused by this fascination that everybody has with Netflix...Netflix doesn't really have or do anything that we can't or don't already do ourselves."

2009: Blockbuster rolls out Blockbuster Express, its kiosk system designed to compete with Redbox.

March 2010: Blockbuster touts 28-day exclusive window over Netflix for new releases. The company also reintroduces late fees, which had been costing the company $300 million in revenue annually.

May 2010: In an interview with Fast Company, Jim Keyes is asked whether Blockbuster's financial troubles were due in part to Netflix's success. "No, I don’t know where that comes from," he says. Keyes denies his company is going bankrupt.

June 2010: Keyes compares Blockbuster to Apple, claiming that its On Demand service is the equivalent of the iMac.

July 2010: Blockbuster launches Droid X app. Blockbuster is de-listed from the New York Stock Exchange after shares hit all time lows.

August 2010: Though ailing from a debt of $900 million, Blockbuster's head of digital strategy explains, "We're strategically better positioned than almost anybody out there. Never in my wildest dreams would I have aimed this high." Blockbuster adds video games to by-mail subscription plans for no additional cost, but neglects to mention that new releases will not be available for three months.

September 2010: Drowned in revenue losses of $1.1 billion, sources say Blockbuster plans to file for bankruptcy. The company is valued at just $24 million.

to me this is arrogance and miss judgement at it's best
1985: First Blockbuster store opens in Dallas. 1994: Viacom acquires Blockbuster for $8.4 billion. 1997: Reed Hastings returns Apollo 13 to Blockbuster six weeks overdue, and is dismayed by the $40 late fee. 1998: Reed Hastings founds Netflix. 1999: Viacom holds Blockbuster IPO, valued at up to $4.8 billion. 2000: Blockbuster declines several offers to purchase Netflix for a mere $50 million. Instead, the company inks a 20-year deal to deliver on-demand movies with Enron Broadband Services, a subsidiary of energy trading giant Enron. 2001: Enron files for bankruptcy amid accounting scandal. 2002: Blockbuster debuts Super Bowl ad starring the voices of Jim Belushi and James Woods, as a rabbit and a guinea pig. The company posts a $1.6 billion loss. 2003: Netflix posts first profit, earning $6.5 million on revenues of $272 million. Redbox launches a kiosk rental service. 2004: Blockbuster enters online DVD rental market. Netflix CEO Reed Hastings tells analysts in an earnings call, "In the last six months, Blockbuster has thrown everything but the kitchen sink at us." The following day, Hastings receives a package from Blockbuster. Inside: a kitchen sink. 2005: Blockbuster launches a marketing campaign touting its new "No Late Fees" policy. Subsequently, 48 states launch investigations into the program, charging Blockbuster with misrepresenting its late fee policy to customers. Blockbuster settles for $650,000. 2006: Blockbuster, now valued at $500 million, surpasses its goal of two million subscribers for its online platform. Netflix reaches 6.3 million subscribers by December. 2007: Blockbuster hires new CEO Jim Keyes, formerly of 7-Eleven. Keyes decides to roll back the company's Total Access plans. "Clearly our spending on that one channel was exceeding our returns," he said during a company earnings call. After losing a half-million subscribers in the third quarter, Blockbuster announces it will no longer report its subscriber count. 2008: Blockbuster proposes buying struggling electronics chain Circuit City. Blockbuster soon withdraws its offer after it's universally panned. Circuit City files for bankruptcy in November. Keyes also expresses doubt about Netflix in an interview: "I've been frankly confused by this fascination that everybody has with Netflix...Netflix doesn't really have or do anything that we can't or don't already do ourselves." 2009: Blockbuster rolls out Blockbuster Express, its kiosk system designed to compete with Redbox. March 2010: Blockbuster touts 28-day exclusive window over Netflix for new releases. The company also reintroduces late fees, which had been costing the company $300 million in revenue annually. May 2010: In an interview with Fast Company, Jim Keyes is asked whether Blockbuster's financial troubles were due in part to Netflix's success. "No, I don’t know where that comes from," he says. Keyes denies his company is going bankrupt. June 2010: Keyes compares Blockbuster to Apple, claiming that its On Demand service is the equivalent of the iMac. July 2010: Blockbuster launches Droid X app. Blockbuster is de-listed from the New York Stock Exchange after shares hit all time lows. August 2010: Though ailing from a debt of $900 million, Blockbuster's head of digital strategy explains, "We're strategically better positioned than almost anybody out there. Never in my wildest dreams would I have aimed this high." Blockbuster adds video games to by-mail subscription plans for no additional cost, but neglects to mention that new releases will not be available for three months. September 2010: Drowned in revenue losses of $1.1 billion, sources say Blockbuster plans to file for bankruptcy. The company is valued at just $24 million. to me this is arrogance and miss judgement at it's best cosmicma

12:52pm Thu 17 Jan 13

BWFC1988 says...

MarkAllRead wrote:
I was only in there yesterday. I said "Can I have Batman Forever?". He said "no, you have to bring it back tomorrow".
They wouldn't let me rent a DVD on suicide, they said I wouldn't bring it back.

Poor service!
[quote][p][bold]MarkAllRead[/bold] wrote: I was only in there yesterday. I said "Can I have Batman Forever?". He said "no, you have to bring it back tomorrow".[/p][/quote]They wouldn't let me rent a DVD on suicide, they said I wouldn't bring it back. Poor service! BWFC1988

1:18pm Thu 17 Jan 13

Harry-Joe says...

Totally unrelated to the article....

Makes me laugh how people go on about immigrants and benefits.

So your not happy to pay for immigrants but its ok for you to pay for British born lazy benefit life claimers?

If it wasnt for the help of working tax paying immigrants both european and non euorpeon then who would keep our lazy British scroungers families in drink, fags, expensive clothes and electrical goods?

You cant blame everything on foreigners, as WE, the british are just as bad.

How about changing the system so you can only claim benefits for 1month for every month you have worked. That would soon get lazy life claimers people out to work and means you could give more to hard working families that actually deserve the help when they need it.

Tired of paying for lazy S**ts.
Totally unrelated to the article.... Makes me laugh how people go on about immigrants and benefits. So your not happy to pay for immigrants but its ok for you to pay for British born lazy benefit life claimers? If it wasnt for the help of working tax paying immigrants both european and non euorpeon then who would keep our lazy British scroungers families in drink, fags, expensive clothes and electrical goods? You cant blame everything on foreigners, as WE, the british are just as bad. How about changing the system so you can only claim benefits for 1month for every month you have worked. That would soon get lazy life claimers people out to work and means you could give more to hard working families that actually deserve the help when they need it. Tired of paying for lazy S**ts. Harry-Joe

2:30pm Thu 17 Jan 13

boltonnut says...

Mouse droppings,thats the reason Iv'e heard for Blockbuster closing.They can't close grocery stores or fast food places so they picked on BB.
Mouse droppings,thats the reason Iv'e heard for Blockbuster closing.They can't close grocery stores or fast food places so they picked on BB. boltonnut

12:15pm Sat 19 Jan 13

gambit187 says...

georgethebrave wrote:
I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people!
You are a very unintelligent person. How have you made any link between Blockbuster closing and immigrants getting benefits and handouts etc? This is exactly how Hitler got the Germans to turn against the Jews. You need to go back to school - I hope you are the only nut job in Britain who thinks this way!
[quote][p][bold]georgethebrave[/bold] wrote: I went in yesterday to get a dvd, and a ps3 game for my son, I was told they were no longer renting any games because the shop in Horwich was closing in March. This country is turning into an absolute joke, if big companies like blockbuster can't survive on the high street, we are well and truly screwed! Stop giving benefits to immigrants, stop giving them houses and endless money for them and their many children, and start to look after a true british people![/p][/quote]You are a very unintelligent person. How have you made any link between Blockbuster closing and immigrants getting benefits and handouts etc? This is exactly how Hitler got the Germans to turn against the Jews. You need to go back to school - I hope you are the only nut job in Britain who thinks this way! gambit187

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