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264 Blockbuster stores and 2000 jobs saved as buyer is found

It's those flash Gordon Brothers.

Blockbuster UK has a buyer: restructuring company Gordon Brothers. The sale will keep 264 stores open and 2000 staff employed.

"This transaction provides Blockbuster a future in the UK," commented administrator Deloitte.

"We acknowledge the industry is in transition; we know that we have a challenge ahead but there is still a market to be served," added Gordon Brothers CEO Frank Morton.

Gary Warren, former commercial director of HMV UK and Ireland, has been appointed as managing director. He left HMV in June 2011 - HMV being another high profile casualty of the UK entertainment high street this year.

Blockbuster went into administration in January. At that point, it had 528 stores across the UK and 4190 staff.

HMV is still looking for a buyer. It's debt was bought by restructuring company Hilco in January, which provided temporary stability, but a looming rent bill has apparently put THE pressure back on.

Electronics chain Comet closed for good at the end of last year, and Jessops followed suit in January.

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