Administrators Deloitte find rescue for the UK holdings of troubled rental chain Blockbuster-- private equity firm Gordon Brothers Europe via subsidiary TS 1973 Investment Holdings.
The investors give no financial details on the "substantial investment" saving 264 stores and over 2000 jobs across the UK and the Channel Islands.
"Blockbuster has a strong brand affinity and we believe that with the right mix of new product offering, new technologies, strategic management and marketing, we can bring new life to this high street staple," a Gordon Brothers statement says. "We look forward to working with employees, suppliers, landlords and other stakeholders to make this happen."
One of a number of British high street casualties, Blockbuster entered administration on January 2013 following 24 years of operation. The video chain blames its struggles on a changing market, as well as internet-based rivals of the Netflix, LoveFilm and iTunes variety.
Recent Bloomberg rumours suggest Blockbuster will start selling mobile phones in the US. Will it start doing the same in the UK?
Go Gordon Brothers Europe Acquires Blockbuster Entertainment