HMV Set to Be Rescued, But Blockbuster Left Floundering20 January 2013
When news that HMV was bankrupt and may be closing came to light earlier this week, Facebook and Twitter were awash with eulogies and lamentations for the loss of the media store. When Blockbuster closed there was barely a mention made. And that's the kind of response the industry have given their equal situations.
As the Telegraph reports, HMV have had over 50 parties express interest in all or part of the business to help keep it afloat. In contrast, Blockbuster have had almost no interest from potential buyers, which is understandable given that it's utterly redundant now, all thanks to the likes of LoveFilm and Netflix. However, Morrison's has been keeping an eye on the sites Blockbuster currently inhabits, hoping to turn them into convenience stores of the brand.
Blockbuster seriously missed a trick when they didn't buy LoveFilm when they had the chance, losing it months later to Amazon. HMV's premise, along with its strong online presence still renders it potentially useful and lucrative, unlike Blockbuster. 1000 jobs are set to be lost at Blockbuster and a further few thousand of none of the bids come through for HMV. With Jessops closing earlier this month, it is all a sad indictment of the state of the British economy.