All Posts Tagged Tag: ‘Administration’

BlockBuster U.K. Enters Administration, Again

In January of this year, Blockbuster U.K. announced that it was entering administration, the British version of a bankruptcy filing. The company began closing dozens of its stores and laid off hundreds of employees while getting into shape for a sale. Eventually, the company was bought by Gordon Brothers Europe, a private equity firm that believed it could reform Blockbuster …

Read More

HMV to Close Even More Stores, Lay Off 464 More Employees

U.K. Electronics retailer HMV is set to close 37 more stores and lay off 464 more employees. This is in addition to the 66 store closures and 930 employee lay offs that were announced earlier this month. No date has been set for the store closures, but individual stores will be closing in the next four to six weeks. Adding …

Read More

HMV to Close 66 Stores, Lay Off Over 900 Employees

Last month, U.K. electronics retailer HMV entered administration. Employees and customers were left wondering whether the business would be shutting down. Today, Deloitte, the firm hired to oversee HMV’s administration, announced that 66 HMV stores will be closing throughout the U.K. These stores collectively have 930 employees, and no plans to relocate them were revealed. HMV currently has 220 stores …

Read More

Blockbuster U.K. to Close 160 Stores, More Closings Possible

Last week Blockbuster U.K. announced that it would be entering administration and begin looking for a buyer for its 528 stores across the U.K. Today, the real process of closing up shop has started and store closings have been announced. Deloitte, the firm administering Blockbuster, has announced that 160 Blockbuster stores in the U.K. will be closing. The possibility of …

Read More

Blockbuster U.K. Enters Administration

Coming just one day after U.K. electronics retailer HMV announced it would seek administration, auditing firm Deloitte has announced that it has been commissioned to administrate Blockbuster U.K. Deloitte was also mentioned as a possible administrator for HMV. Deloitte claims that Blockbuster U.K.’s “core” business is still solid. A buyer for the company’s 528 stores across the U.K. will be …

Read More

HMV Closing? Electronics Retailer Enters Administration

HMV, the British entertainment retailer, has announced that its discussions with creditors have come to an end and the company will enter administration. Trading of HMV stock has been suspended on the London Stock Exchange. Deloitte partners Nick, Edwards, Neville Kahn, and Rob Harding have been name-dropped as posible administrators of the company and some of its subsidiaries. HMV has …

Read More

Developer Eurocom Shuts Down in Wake of 007 Legends Failure

Following the release of the poorly-reviewed and all-around dismal failure 007 Legends, developer Eurocom has laid off its 42 remaining employees and ceased trading on its stock. An Administrator from Smith Cooper has taken control of the company. Eurocom issued a statement to Eurogamer, revealing that the company was not able to secure new development contracts in time to pay …

Read More