Gordon Brothers Lifts UK Blockbuster Unit Out Of Bankruptcy

Law360, New York (March 25, 2013, 1:27 PM EDT) -- The beleaguered British offshoot of video-rental giant Blockbuster Inc. emerged from bankruptcy Saturday thanks to a bid from private equity firm Gordon Brothers Europe that will salvage a network of more than 250 stores, insolvency administrators from Deloitte LLP said.

Financial terms of the deal were not disclosed. Gordon Brothers' investment closes out Blockbuster's two-month stint in bankruptcy court that saw its assets hacked roughly in half and threatened to trim them even further without an equity infusion.

As economic crisis reverberates throughout Europe, British retailers...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.