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Blockbuster UK cuts 72 stores as search for buyer continues

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Blockbuster UK faces 452 layoffs and 72 store closures, after company administrators announced "necessary" measures for the once-again bankrupt retail chain. Moorfield Corporate Recovery, the company tasked with finding another buyer for the struggling outlet, said it wasn't an easy decision to make ahead of the Christmas season.

"We must reiterate that, as part of our attempts to turnaround the business, today's decision is necessary if parts of Blockbuster are to be saved and a buyer found," Moorfield said in a statement provided to Sky News.

The cuts represent around a quarter of Blockbuster's employees and stores, removing another chunk of gaming's presence on the UK high street. Between them, GAME and HMV closed hundreds of stores and laid off thousands of employees after their own forays into administration last year.

The news follows the announcement that Blockbuster's US arm will close all 300 stores and end its retail and mail DVD operations in the country by January 2014.

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