Blockbuster UK finds buyer

Restructuring and investment firm Gordon Brothers Europe bought Blockbuster UK over the weekend. The multimedia rental and sales chain entered administration in January, a month which also saw Blockbuster's US arm close a further 300 stores. Gordon Brothers Europe acquired the retailer's 264 UK stores, with the BBC reporting 2000 jobs may be saved as a result. How much the sale cost remains undisclosed.

With GAME's troubles of last year, the demises of Blockbuster and HMV left UK high street games retail with worryingly threadbare prospects. The administration process leaves Blockbuster with just over half of the 500 stores it had before, while HMV's high street presence is facing a similar level of cutback. However, both the Telegraph and the Financial Times are reporting restructuring specialist Hilco is close to securing a deal to buy HMV, having taken control of the retail chain's debt.

This article was originally published on Joystiq.