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Blockbuster video store to shut

By Paul Robins
June 03, 2009

Blockbuster is pressing the stop button on its store in Reading town centre leaving nine staff at risk of losing their jobs.

The video and games rental shop in Oxford Road will close its doors for the final time on Saturday, June 27.

Its 10-year lease expires at the end of next month and the US company says it has taken the decision not to renew it.

Blockbuster, which has 700 stores in the UK, has been hit hard by the growth of online video downloads and home-delivery rentals in recent years.

Staff at the Oxford Road branch have been informed of the closure and will be offered the chance to relocate within the company.

Customers’ accounts will be transferred to one of the nearby Blockbuster outlets in Lower Earley, Tilehurst or Emmer Green.

Blockbuster spokeswoman Anya Holberton said: “I can confirm the Oxford Road Blockbuster store is regrettably closing on June 27.

“The reason behind this is that the lease is expiring at the end of June.

“All staff have been notified and customers will be offered the opportunity to transfer to another of the local Blockbuster stores.

“In the circumstance of any store closure we have a one-to-one consultation process where opportunities in other local stores will be offered to each staff member, should they wish to stay with the company.

“Because this consultation process is still in progress I cannot comment any further on this at this moment in time.”

Recent reports claim the world’s largest video rental chain is close to collapse after its shares fell 76 per cent in March and were suspended by the New York Stock Exchange.

Blockbuster is believed to have called in law firm Kirkland & Ellis and investment bank Rothschild to look at restructuring the business.

paul.robins@reading-epost.co.uk

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The club AndyP is going on about is probably the one that was going to be the "superclub" at Friars Walk which never took off. All the problems the matrix had and that other one at Chatham Street would probably prevent RBC from giving a licence out for another one.

Anyway nowhere beats the after dark!

Shame for blockbuster, never used the oxford road branch although I used to be a member at Lower Earley but now I'm happy to wait for films to be shown on sky premier.

RYF, Royal County of Berkshire
04/06/2009 at 12:10

That's a shame - I went in there 3 weeks ago and it was just dead, empty... not like the busy place it used to be.

L
04/06/2009 at 10:23

Will be sadley missed and very convenient to where I live.

GRUSS, READING
03/06/2009 at 20:19

Lovefilm.com to name one - brilliant service and very cheap!

C H, The tree in my garden, Tilehurst
03/06/2009 at 18:16

Are they going to flatten or redevelope that area perhaps. I always loved the rumours that were going around about a Ministry of Sound going in that space. We need a good club that isnt chavd out

AndyP, Reading
03/06/2009 at 16:15

Correction: That should read "90 day trials"

Emma Royds
03/06/2009 at 15:52

Hugh you should try some of the online movie rental services! There is one crowd who always seem to have 90 free trials going - I haven't paid for a DVD in years.

Emma Royds
03/06/2009 at 15:51

Great. As a member of the Lower Earley branch that means with all the Reading customers having their accounts moved there that there will be less new release DVD's to choose from.