Struggling DVD rental chain Blockbuster faces being broken up by Christmas after it formally went into administration today – for the second time this year.

Dominic Prendergast has been appointed as managing director of Clerys department store, with immediate effect.

The new owner of Clerys has vowed to “revitalise” the historic store’s fortunes with fresh investment to enhance its offering and improve its operations.

The US firm which is buying Clerys says the deal will mark a "fresh start" for the department store.