Joint Administrators Simon Thomas and Nick O'Reilly of Moorfields Corporate Recovery have announced further closures of Blockbuster stores as a result of the high street chain going into administration earlier this year, and are warning all branches may close by the end of the year with the loss of 800 jobs.

Moorfields says a further 62 stores across the UK will close immediately, as part of a phased closure announced last month, which will see a further 427 jobs disappear. The joint administrators reported they had still not received any acceptable offers, and said as a result they may be forced to close the remaining 91 stores affecting 808 employees.

The firm is calling on the chancellor to take urgent action on business rates in the Autumn Statement later today, saying that while Blockbuster's difficulties were not solely due to the burden of business rates, 'the group was paying a sizeable £3.8m on a turnover of £40m. Even if, as speculated, the rates increase were capped at 2% Blockbuster would have faced an increase of £75,000 on an already considerable £3.8m.'