Blockbuster set to re-enter administration
The DvD rental chain, which has stores in Thatcham and Tilehurst, employs 2,000 staff in 264 stores across the country.
The chain was bought by Gordon Brothers Europe in March this year after it entered administration in January after losing business to online firms.
However, the firm announced today (Tuesday) that they would be appointing an administrator for the troubled store.
In a statement Gordon Brothers Europe said it had: "Striven to turnaround the historically loss-making company by restructuring the business" and had "tried to develop a new digital platform but was unable to broker a licensing deal with Blockbuster UK’s parent company in the US."
It added: "Regrettably, the months since the acquisition have also coincided with a period of poor trading performance across both rental and retail sales."
The firm said that 32 jobs would be lost at Blockbuster UKs head office but added that all stores would continue trading while a buyer was sought.
CEO of Gordon Brothers Europe, Frank Morton, said: "Since the acquisition we have worked extremely hard to reignite the Blockbuster brand, make our investment work and put the business on a viable footing.
"Despite our best efforts, we regret that we are now forced to make some redundancies and would like to thank any affected employees for their support during the last six months."
Blockbuster is one of many high street stores to enter administration this year.
Music store HMV and camera chain Jessops both entered administration in January after suffering from online competition.