Will frozen foods replace DVDs in stores of the bankrupt British operation of Blockbuster? Frozen food retailer Iceland has already acquired five former Blockbuster outlets as restructuring firm Gordon Brothers works on a 300-store rescue to keep the DVD retailer going, and other frozen food retailers are interested.
Deloitte, which is administering the bankruptcy proceedings, has begun the process of closing 293 of Blockbuster's 528 outlets. Restructurer GA Europe is said to have backed off from a deal for 150. Besides Iceland, Heron Foods and Frozen Value are all eyeing the collapsed DVD rental chains store estate after it fell into administration in January. It is also thought Pets at Home is eyeing a handful of stores.
Iceland, which already has 786 frozen food stores, has taken the lead in buying five Blockbuster locations. Iceland founder Malcolm Walker has stated that it is his ambition to open 15-20 stores a year after buying back the business he founded in 1970 for £1.4bn last year. The retailer is looking to build on its UK store estate and explore international opportunities including in the Czech Republic where it opened its first trial store last year.
Supermarket chain Morrisons has acquired 49 Blockbuster outlets as convenience stores Heron Foods and Frozen Value are understood to each be interested in acquiring five stores to build on their store estates. Heron has more than 240 stores in the North and Midlands and last year acquired 54 Cooltrader stores from Iceland. Frozen Value, which also trades as Jack Fulton and Fultons Foods, has expanded slowly over the last decade from 65 to just over 100 stores
Deloitte, which is administering the bankruptcy proceedings, has begun the process of closing 293 of Blockbuster's 528 outlets. Restructurer GA Europe is said to have backed off from a deal for 150. Besides Iceland, Heron Foods and Frozen Value are all eyeing the collapsed DVD rental chains store estate after it fell into administration in January. It is also thought Pets at Home is eyeing a handful of stores.
Iceland, which already has 786 frozen food stores, has taken the lead in buying five Blockbuster locations. Iceland founder Malcolm Walker has stated that it is his ambition to open 15-20 stores a year after buying back the business he founded in 1970 for £1.4bn last year. The retailer is looking to build on its UK store estate and explore international opportunities including in the Czech Republic where it opened its first trial store last year.
Supermarket chain Morrisons has acquired 49 Blockbuster outlets as convenience stores Heron Foods and Frozen Value are understood to each be interested in acquiring five stores to build on their store estates. Heron has more than 240 stores in the North and Midlands and last year acquired 54 Cooltrader stores from Iceland. Frozen Value, which also trades as Jack Fulton and Fultons Foods, has expanded slowly over the last decade from 65 to just over 100 stores
