Blockbuster is the latest high street chain to collapse

Blockbuster
Blockbuster
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THE high street faces a second blow in as many days after it was announced Blockbuster has appointed administrators.

The film rental store has shops in North End, Cosham, Southsea, Fareham. Gosport and Chichester and employs more than 4,000 in 528 shops nationwide.

It has appointed Deloitte as administrators, the same firm which is administrator to HMV, which collapsed this week.

Lee Manning, joint administrator for Deloitte, said: ‘In recent years Blockbuster has faced increased competition from internet based providers, along with the shift to digital streaming of movies and games.’

Deloitte said that gift cards will be honoured at Blockbuster.