Here is some great news that means thousands of jobs saved. Gordon Brothers Europe, a private equity firm known for rescuing troubled companies, has bought Blockbuster’s British assets.
We don’t know how much it cost the buyer, but the main thing is that this deal will keep 2,000 workers and 264 stores in full operation while it plans a turnaround. Gordon Brothers plans to bring “new products” and “new technologies” to the retail chain.
They better embrace some new technology and new products, because discs alone will not keep them afloat. Maybe they will offer a streaming service in the future and compete with Netflix.
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