Blockbuster: Stores to close as rescue ails

Blockbuster would close 62 stores and lay off 427 employees, the British film and computer game rental chain said yesterday, and warned its remaining 91 stores and 808 staff could face the same fate. Private equity firm Gordon Brothers Europe, which purchased Blockbuster for an undisclosed sum in March, put it into administration last month, when it had 2 000 staff at 264 stores. Administrator Moorfields Corporate Recovery said yesterday that it had not received any acceptable offers for the business. – Reuters