Blockbuster's UK video rental chain enters administration after 24 years

BBC News is reporting that there's another casualty on the British high street today as video rental chain Blockbuster enters administration. The company began life in the motherland back in March 1989 and, like several of its brethren, couldn't compete against online offerings from Amazon (amongst others). It's the second business in 48 hours to go under after HMV did the same yesterday. BBC News is also reporting that administrators Deloitte will continue to honor gift cards and will keep the stores trading in the hope of finding a buyer.