Blockbuster's Gravesend store is among a dozen in Kent

by business editor Trevor Sturgess

Blockbuster, the DVD and video games rental business, is the latest victim of the high street crisis after collapsing into administration today and putting more than 4,000 jobs at risk nationwide.

The chain operates a dozen branches across the county - in Maidstone, Rainham, Chatham, Sittingbourne, Tonbridge, Tunbridge Wells, Sevenoaks, Gravesend, Ashford, Dover, Folkestone and Ramsgate.

Nationally, the company has 528 stores and employs 4,190 staff. It has faced fierce online competition and the switch to digital streaming.

Deloitte, the firm handling the administration of CD retailer HMV, is also administering Blockbuster Entertainment and Blockbuster GB.

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

"We are working closely with suppliers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

"The core of the business is still profitable and we will continue to trade as normal in both retail and rental whilst we seek a buyer for all or parts of the business as a going concern.

"During this time gift cards and credit acquired through Blockbuster's trade-in scheme will be honoured towards the purchase of goods."

Blockbuster joins a sorry roll call of high street retailers who have suffered from online competition in recent years.

Some like Woolworth, Zavvi, Comet and Jessops have disappeared altogether. HMV is hanging on for a possible buyer, but faces the closure of many stores.

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