Turnaround specialist snaps up Blockbuster

DVD and games rental chain Blockbuster has been rescued by private equity group Gordon Brothers Europe just two months after it collapsed into administration.

The new deal will see Gordon Brothers keep 264 of Blockbuster’s 528 stores, safeguarding the jobs of nearly half of its 4,190 workforce.

On 16 January Deloitte partners Lee Manning, Matthew David Smith and Neville Kahn were appointed joint administrators to Blockbuster Entertainment Limited and Blockbuster GB Limited.

Manning, did not disclose the amount paid by Gordon Brothers, but said...

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If at first....

moneymanager | | Permalink

'The former HMV UK and Ireland commercial director Gary Warren has also been appointed as managing director of Blockbuster'

Well that's all right then.