Jobs saved in the UK as Blockbuster is bought

Troubled DVD and games rental chain Blockbuster has been bought, saving 2,000 jobs and 264 UK stores.

Administrators from Deloitte, the accountancy firm, announced the restructuring specialists Gordon Brothers Europe had purchased the company for an undisclosed sum.

Blockbuster collapsed in January amid competition from internet firms and the digital streaming of movies and games.

Joint Administrator Lee Manning, said: “Having identified a profitable core portfolio of stores we are pleased to have achieved this sale for creditors.

“Together with the previously announced store sales more than half of the original estate has been secured for ongoing use.

“This transaction provides Blockbuster a future in the UK and we owe a special vote of thanks to all the Company’s employees, suppliers and customers for helping us rescue the business.”