U.K. Blockbuster Stores Find Buyer

LONDON -- The DVD and games rental store Blockbuster has been sold to restructuring specialists Gordon Brothers Europe after filing for a form of U.K. bankruptcy earlier this year.

The company had gone into administration -- a form of bankruptcy in Britain -- in January.

Blockbuster U.K. at the time had 528 stores. Hundreds of shops were shut in the weeks after its financial collapse.

Administrators for the company from accounting firm Deloitte said Saturday that Gordon Brothers Europe had purchased Blockbuster for an undisclosed sum, saving 2,000 jobs and 264 U.K. stores.

Blockbuster in Britain is a subsidiary of U.S.-based Blockbuster LLC, which itself was reorganized under American bankruptcy laws and then acquired in 2011 by DISH Network ( DISH)of Colorado.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Stocks

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

The Best Investment Advice? Stay Diversified

The Best Investment Advice? Stay Diversified

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Listen: Should You Buy Cisco Now?

Listen: Should You Buy Cisco Now?

Amazon Could Devastate Walgreens and Rite Aid by Getting Into Pharmacy Business

Amazon Could Devastate Walgreens and Rite Aid by Getting Into Pharmacy Business