Failed DVD and games rental firm Blockbuster will close 129 of its 528 stores and make 760 of its 4,190 employees redundant in the coming weeks, its administrator has confirmed.
The 23 Scottish stores to be closed include one at Broughty Ferry and another at Stobswell in Dundee, as well as single outlets at Forfar, Kennoway, Kinross and Perth.
Thirty-one stores have already been put on notice of closure with a number of closing-down promotions announced.
Lee Manning, of administrator Deloitte, said: “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. “We would like to thank the company’s employees for their support and professionalism during this difficult time.
“We are also grateful to the customers for their continued support.”
The administrator said an employee helpline and an “employee assistance programme” are in place to help staff find other jobs.
The firm’s trading woes were blamed on competition from internet firms and digital streaming of movies and games.
Blockbuster had struggled to adapt to the changing market and rivalry from internet retailers including Netflix, Amazon’s LoveFilm and iTunes, which now offers a movie rental service.
The devastating impact of the internet on Britain’s high street had already been laid bare with the demise of camera chain Jessops, electricals group Comet, and music and entertainment chain Comet, each of which also cited competition from online players as a major reason for their downfall.
Blockbuster’s administration came just hours after after HMV went under, following dismal Christmas sales.
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