THE ARBROATH Blockbuster store has been saved from an uncertain future thanks to the acquisition of its parent company by an investment firm.
The announcement was made today (Wednesday) that TS 1973 Investment Holdings Limited, a subsidiary of global private equity and investment company Gordon Brothers Europe had acquired the business and assets of Blockbuster Entertainment Ltd and Blockbuster GB Ltd.
The Fisheracre store is one of 264 stores across the UK and Channel Islands which will continue to operate on a business as usual basis, saving over 2,000 jobs.
The deal will see substantial investment from Gordon Brothers Europe, which intends to fully utilise the existing trading platform, powerhouse brand and extensive customer database.
The company will focus on enhancing the customer experience through the use of new product offerings, new technologies and better basic retailing helping Blockbuster become a viable business once again.
Former HMV UK and Ireland commercial director and 20 year industry veteran Gary Warren has been appointed as managing director of Blockbuster.
Frank Morton, chief executive officer of Gordon Brothers Europe said: “We are delighted to announce the acquisition of Blockbuster.
“We acknowledge the industry is in transition, we know that we have a challenge ahead but there is still a market to be served.
“Blockbuster has a strong brand affinity and we believe that with the right mix of new product offering, new technologies, strategic management and marketing, we can bring new life to this high street staple.
“We look forward to working with employees, suppliers, landlords and other stakeholders to make this happen.”
At the time of publication the Blockbuster outlet on Claypotts Road, Broughty Ferry remained closed.