Morrisons acquires 49 Blockbuster stores

Morrisons has purchased a number of Blockbuster stores from administrator Deloitte, which it hopes to have trading by the end of the summer.

The deal follows the grocer’s acquisition of seven Jessops stores earlier this month.

Deloitte partner Lee Manning said: “This transaction represents a good deal for both the creditors of Blockbuster and Morrisons, and we are pleased that these stores have found an alternative user that can create new employment."

Blockbusters collapsed last month after struggling to keep up with online competitors, making it the third major UK retailer to collapse this year.