Deloitte, the group handling the administration of Blockbuster UK, will close 160 of the retailer's 500 stores. Blockbuster UK went into administration Wednesday
, appointing Deloitte to the task of handling the bankruptcy proceedings and finding a buyer for the company.
Lee Manning, an administrator with the group, told GamesIndustry International
, "Having reviewed the portfolio with management, the store closure plan is an inevitable consequence of having to restructure the Company to a profitable core which is capable of being sold." Deloitte noted that more store closings may hit in the coming weeks.