Mon, 15 Mar 2010 | BUSINESS SALE
The troubled US video rental chain, Blockbuster, has put up its European division for sale.
The American parent company, Blockbuster Inc, has accumulated over US$1 billion (£660 million) in losses and wants to sell its European arm in order to raise some cash. This includes some 650 stores in the UK as well as stores in Ireland, Denmark and Italy.
Blockbuster was founded in 1985 and has been struggling with debt for over 10 years since it broke away from the US media conglomerate, Viacom.
In February, the company announced that its 2009 sales had dropped from US$5 billion to US$4 billion. Its losses rose by 50 per cent to US$560 million in the same period and its shares, which at one point were worth $28, are now only valued at 41 cents.
Blockbuster has appointed Winchester Capital, a US corporate finance house, to find a buyer for its European wing, estimated to be worth approximately £50 million.
In addition, the parent company is said to be assessing a change to its capital structure, following concerns from its auditor as to its viability as a going concern. It will also try to modernise its product offering by expanding its mail order and digital services.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
|
02
|
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
|
01
|
|
May
|
Cybersecurity firm Brigantia bought by European peer | BUSINESS SALE
North Yorkshire cybersecurity distributor Brigantia Partners...
|
01
|
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
|
02
|
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
|
01
|
|
May
|
McCann and Partners undergoes an MBO | MBO/MBI
A team of five directors at South Wales engineering and buil...
|
01
|
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.