Blockbuster to close 72 stores in the UK

Troubled retailer Blockbuster will close a further 72 stores in the UK, the company's administrators announced today.

The downsizing, which will affect 452 members of staff, will reduce the company's high street presence to 192 stores, down from 264.

"We must reiterate that, as part of our attempts to turn around the business, today's decision is necessary if parts of Blockbuster are to be saved and a buyer found," said administrators Moorfields Corporate Recovery in a statement to the BBC.

The company closed 324 of its stores at the start of 2013.

Earlier this month, Blockbuster US said it will close all of its retail stores this year.

Microsoft and Sony have both agreed to honour Xbox One and PlayStation 4 preorders made by customers at the beleaguered retailer.