Blockbuster Secures Future – Looks to Music Retail To Survive

In Customer Engagement, Featured on App, Marketing and Sales by Vaughn HighfieldLeave a Comment

Blockbuster UK Stores look to move into the music market

UK rental retailer Blockbuster has announced that they will look into music retail now that they've been bought out and have secured their future.

Announced last week, Blockbusters have managed to save some stores and employees from closure as restructuring specialists Gordon Brothers Europe have bought the rental retailer for an undisclosed sum and plan to continue its business in new ways.

One new way is to capitalise upon the gap for a high-street or convenient music retailer – which has come after the downsizing and restructuring of HMV earlier in the year.

It isn't clear how Gordon Brothers plan to go about this new direction, but it's clear they are capitalising upon a need from the customer – who were largely dismayed at the prospect of losing a high-street music chain, leaving them with slim options to pick up their music in physical form.

Joint administrator Lee Manning said, "Together with the previously announced store sales more than half of the original estate has been secured for ongoing use."

Manning speaks of the 49 stores that were bought out by Morrisons as many other frozen food and grocers looked to snap up the retailer's convenient store locations for their own business.

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

Do you think it's a smart move for Blockbuster to enter the tricky space of music retail?

Could they be setting themselves up for failiure yet again?

Would a better omni-channel strategy work better for the retailer?

Let us know by leaving your thoughts in the comments below.

 

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